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 577 yuan (about 84 U.S. dollars) per tonne Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said the daily coal consumption of major power plants along the coast has risen rapidly since April, ending two consecutive weeks of decline in coal prices around the Bohai Sea.
Meanwhile, according to the General Administration of Customs, China imported 27.47 million tonnes of coal and lignite in May, up 23 percent year on year and 8.6 percent from the previous month, which restrained the rise of coal price.
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.