China's benchmark price of power coal has remained flat for the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a price indicator for coal in northern China's major ports, stood at 530 yuan (about US$ 74.84) per ton on Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Uh, Ltd.
Analysts said that high inventories at ports and power plants during the off-season period led to further declines in spot coal prices, while the improved daily consumption of coastal power plants and the grim situation of coal imports made the index stop falling.
In addition to stimulating demand for coal, appropriate adjustments to the production capacity of coal mines and imports of coal are key to a fundamental balance of supply and demand, thereby stabilizing the prices of coal, according to analysts.
Released every Wednesday, BSPI is the leading indicator of Chinese coal prices.
