The Bohai-Rim Steam-Coal Price Index (BSPI), a carbon price gage in major ports in northern China, stood at 531 yuan (about US$ 74.7) per ton on Wednesday, an rise of 1 yuan per week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Uh, Ltd.
Analysts argued that the reasons for the narrowing of the index increase included a rapid fall in stocks in the ports of Bohai-Rim, a decrease in the daily usage of downstream power plants, and a cooling of market trading activities. Moreover, the coal prices of major coal producers did not come out at the beginning of the month, which resulted in a deep wait-and-see mood on the market.
The wide stock gap in ports, combined with an rise in the number of coal mines that have reduced output or stopped production, has helped a slow upward trend in the price of thermal coal. The buyer’s bargaining power was strengthened by a steady decline in daily coal consumption in coastal power plants, which, according to analysts, hampered the upward movement of coal prices.
