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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

Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...


Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...


Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...


Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...


Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance   China's top economic planner on Saturday gave approval to ...


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