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China’s benchmark power coal price remains flat

China’s benchmark power coal price remained flat 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 553 yuan (about 80.1 U.S. dollars) per tonne Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said as the Chinese Lunar New Year holiday approaches, the flat market came amid a series of factors including some coal mines and downstream industrial enterprises having suspended production successively, coastal coal markets with low trade activity, and coal traders holding a wait-and-see attitude towards the post-holiday market.

Released every Wednesday, the BSPI is a leading indicator of China’s coal prices.
Source: Xinhua

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