1st LD-Writethru: China's benchmark power coal price edges down
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E-mail Xinhua, August 12, 2020
SHIJIAZHUANG, Aug. 12 (Xinhua) -- 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 544 yuan (about 78.31 U.S. dollars) per tonne Wednesday, down by one yuan week on week, according to the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said the supply and demand of coal in the Bohai-Rim region is at a weak balance, with weather conditions becoming a key factor affecting the market supply and demand.
The slight decline in coal prices came amid a series of factors, including weak purchase demand of spot coal, growing thermal coal stocks at ports and relatively sufficient coal supply, according to 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. Enditem
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