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Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
 
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 546 yuan (about 76.9 U.S. dollars) per tonne Wednesday, a drop of five yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
 
Analysts said given that the supply elasticity of thermal coal was significantly higher than the demand elasticity, the contradiction between supply and demand of domestic thermal coal was prominent, which also led to the continued downward movement of coal prices.
 
The recovery of the thermal coal industry chain was facing challenges, which was the reason why the contradiction between high inventory and destocking demand at ports would be further deepened.
 
At present, the spot price of thermal coal has fallen below the long-term agreement price. With the global outbreak of COVID-19, the financial market has suffered a severe setback, adding to the pessimism in the market, according to analysts.
 
Released every Wednesday, the BSPI is a leading indicator of China’s coal prices.
Source: Xinhua


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Recent News

Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...


Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...


Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...


Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says. ...


Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...


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