China’s benchmark price of power coal has fallen marginally over the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a carbon price tracker in northern China’s major ports, stood at 526 yuan (about US$ 74.2) per ton on Wednesday, a decrease of 4 yuan per week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Uh, Ltd.
Analysts suggested that there have recently been several discussions on the coal trading of the Bohai-rim ports, with some optimistic signals emerging in the thermal coal market, which has marginally improved the consumer sentiment.
However, the actual demand for coal consumption in the peak period has not yet arrived. Pressure on the upstream and downstream markets for coal still exists, causing the price of coal to continue to decline in ports, they said.
Overall, there have been some upward drivers in the current spot coal market, but, according to analysts, weak demand still occupies a relatively dominant position as a result of market performance.
