1st LD-Writethru: China's benchmark power coal price edges up

0 Comment(s)Print E-mail Xinhua, May 27, 2020
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SHIJIAZHUANG, May 27 (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 530 yuan (about 74.09 U.S. dollars) per tonne Wednesday, a rise of 2 yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

A number of factors helped rise coal prices, analysts said.

Because of the overhaul of Datong-Qinhuangdao Railway Line, the supply of coal sources to the port is relatively insufficient. In addition, the amount of imported coal is limited. These factors lead to periodical imbalance of supply and demand.

Analysts said that the coal consumption has been accelerated due to the resumption of work and production, as the level of epidemic prevention and control was lowered in many areas. On the other hand, affected by seasonal factors, the average daily coal consumption of major coastal power plants increased by more than 100,000 tonnes on a year-on-year basis, due to the continuous rainfall in south China.

Released every Wednesday, the BSPI is a leading indicator of China's coal prices. Enditem

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