China’s benchmark power coal price edges up
China’s benchmark power coal price rose 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 580 yuan (about 89.09 U.S. dollars) per tonne Wednesday, a rise of 2 yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said the change of supply and demand has triggered a new round of coal price hikes. The full resumption of economic activities amid good expectations and strengthened confidence has resulted in more coal demand, while strict work safety inspection and the end of winter supply guarantee measures have led to output contraction.
Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd. every Wednesday, the BSPI is a leading indicator of China’s coal prices.