China's benchmark power coal price edges down

• Friday, July 31, 2020
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[Ferro-Alloys.com] 

China's benchmark power coal price dropped slightly during the past week.

 

The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in northern China's major ports, stood at 541 yuan (about 77.25 U.S. dollars) per tonne Wednesday, down one yuan week on week, according to the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

 

Analysts said the sufficient supply of coal continued to put pressure on prices, which contributed to the price decline.

 

However, the rising demand for electricity may drive the power coal consumption stronger and support the coal price, according to the analysts.

 

Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd. every Wednesday, the BSPI is a leading indicator of China's coal prices. 

 

Source: Xinhua

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