China's benchmark power coal price edges up

Source: Xinhua | 2020-05-21

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 528 yuan (about 74.3 U.S. dollars) per tonne Wednesday, up 2 yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said that a rebound in the index came due to factors including the limited domestic raw coal production, a year-on-year increase in power plant coal consumption demand, the expected tightening of coal import policies and a jump in spot coal prices at ports.

According to statistics, coal stocks at ports have dropped by more than 8 million tonnes from last month's high. A short-term mismatch between supply and demand in ports has rapidly taken shape, according to analysts.

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