China's benchmark power coal price remains flat

Source: Xinhua | 2019-07-11

China's benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports, stood at 578 yuan (about 84 U.S. dollars) per tonne Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts attributed the lukewarm prices to weak demand and high stockpile at endusers. The coal stock in major power plants hit a record high of 18.63 million tonnes on July 10, restraining the price increase.
In addition, overcapacity of the shipping market has depressed the transport cost and caused downward pressure on the price of power coal.