ZCZC
BCN-19
CHINA-BENCHMARK-POWER-COAL-PRICE
China’s benchmark power coal price edges down
BEIJING, July 23, 2018 (BSS/Xinhua) – China’s benchmark power coal price
decreased slightly from a week ago due to government efforts to ensure
sufficient supply and a slowing coal consumption.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern
China’s major ports, stood at 569 yuan (around 84 U.S. dollars) per tonne in
the past week, slightly down from 570 yuan a week ago, according to
Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said the price would likely start a losing streak after staying
flat for weeks.
The government pro-supply measures have effectively reined in the rising
momentum of coal prices during this year’s peak season when high temperatures
usually lead to a surge in power demand.
Meanwhile, coal use growth in downstream sectors has begun to soften. The
stocks increased in coastal coal-fired power plants, reaching 15.43 million
tonnes on July 12, the highest in nearly five years.
The benchmark price was 2.23 percent lower than that in the same period of
2017.
China is in the middle of capacity cutting in its overloaded coal sectors,
with plans to reduce 150 million tonnes of capacity this year.
BSS/AFP/HR/1215