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China's benchmark power coal price remains flat

2019-07-24 18:56

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SHIJIAZHUANG, July 24 (Xinhua) -- China's benchmark power coal price remained flat during the past week.

The Bohai-Rim Steam-Coal Price Index, 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 coal prices showed signs of stabilizing as the downward pressure weakened.

The hot summer weather has been driving up coal consumption at power plants, with the stockpiles equaling to less than 24 days of consumption and thus limiting the coal price declines, analysts said.

Meanwhile, there are market expectations of policy restraint on coal imports in the second half after imports in the first half far exceeded the amount a year earlier.

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