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 northern China’s major ports, stood at 579 yuan (about 84 U.S. dollars) per tonne Wednesday, according to the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said that it was hard for coal prices to rise as supply exceeded demand in the first half of May.
Meanwhile, power plants mostly purchased coal under long-term contracts, which stabilized coal prices.
Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd. every Wednesday, the BSPI is considered a leading indicator of China’s coal prices.