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[Ferro-Alloys.com] China's benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China's major ports, stood at 564 yuan (about 84.21 U.S. dollars) per tonne Wednesday, a rise of 5 yuan week on week, according to the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said the enthusiasm of terminal procurement has picked up, with the arrival of the winter storage peak season. And the import policy has not been clear and the accumulation of domestic trade coal inventory was slow, which also lead to a bullish market sentiment, contributing to the rise of the coal price.
Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd. every Wednesday, the BSPI is a leading indicator of China's coal prices.
The UK steel industry can expect a less severe outcome from the second lockdown planned for England from Nov. 5, even as numbers of COVID-19 cases in the country soar, according to market sources.
Steelworks will continue to operate, and construction and manufacturing sites will remain open. However, the closure of car showrooms could again impact automotive output, which was hard hit in the first lockdown earlier this year, sources said.
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- [Editor:kangmingfei]
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