China's benchmark power coal price edges up

SHIJIAZHUANG -- China's benchmark power coal price rose 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 547 yuan (about $81) per tonne Wednesday, a rise of 3 yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co Ltd.

Analysts said that the current coastal coal market was in bullish expectation, and the spot price of Bohai-Rim Steam-Coal jumped sharply, resulting in a simultaneous rise in the comprehensive price. Under the dual effects of the overhaul of Datong-Qinhuangdao Railway and the rising price of coal producing areas, the accumulated stock of the port was less than expected.

Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co Ltd every Wednesday, the BSPI is a leading indicator of China's coal prices.