Rise seen in Chinese benchmark power coal
Last week, a climb was witnessed in benchmark power coal price in China.
The Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd said that on Wednesday, the Bohai-Rim Steam-Coal Price Index (BSPI), a measure of coal prices in north China’s key ports, came in at 619 yuan (around USD98.52) per tonne, a climb of about USD3,71 weekly.
Analysts stated that because of warmer weather and the approaching Spring Festival holiday, power factories have alleviated their demand for coal, with the daily coal use witnessing a noticeable decline.
Nevertheless, coal prices registered great increases weekly over medium and low inventory levels and improved outlook for work and output recommencement following the Spring Festival holiday.
Source: Mena FN