China's benchmark power coal price is expected to stabilize in the future as large coal enterprises have strong intention to support price in December, said analysts.
The benchmark power coal price dropped one yuan/tonne to average at 372 yuan/tonne in November 25-December 1, according to the latest Bohai-Rim Steam-Coal Price Index.
The Bohai-Rim Steam-Coal Price Index covers spot prices at six major coal shipping ports in northern China. In November, due to strong wind and heavy fog, the main coal shipping ports in the Bohai rim region were closed, leading to tight supplies of some coal products and rising ocean freights.
Meanwhile, the sharp temperature drop in south China also promoted daily coal consumption in power plants, said analysts.
Meanwhile, Shenhua Group, the largest coal producer in China, also kept asking price and preferential policy in December unchanged, which will help stabilize the coal market.
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