1st LD-Writethru: China's benchmark power coal price edges up
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E-mail Xinhua, February 19, 2020
SHIJIAZHUANG, Feb. 19 (Xinhua) -- 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 559 yuan (about 79.9 U.S. dollars) per tonne Wednesday, a rise of one yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said that at present, with coal production accelerating in major coal-producing areas, coal stocks in Bohai-Rim ports had rebounded.
As of Feb. 17, 1,274 coal mines were in production nationwide, accounting for 70.2 percent of the total. Overall, the recovery rate of coal supply was expected to be faster.
Coal consumption, however, remained low, as industrial production recovery failed expectations. In addition, the recent southward cold air had no significant impact on downstream power plants. Because of the high inventory of power plants, buyers had a greater say, according to analysts.
Released every Wednesday, the BSPI is a leading indicator of China's coal prices. Enditem
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