SHIJIAZHUANG, Aug. 7 (Xinhua) -- China's benchmark power coal price dropped slightly during the past week, continuing a downward trend.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China's major ports, stood at 576 yuan (about 81.76 U.S. dollars) per tonne Wednesday, a drop of one yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts attributed the lower price to the high stockpile at the endusers and weak demand. The recent cool weather in east and south China brought about by typhoon-triggered rains reduced the coal consumption at power plants, according to analysts.
Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd. every Wednesday, the BSPI is a leading indicator of China's coal prices.