Experts say black gold prices will fall on supply boost

Coal prices are predicted to fall slightly in the second half of this year, thanks to government efforts to ensure adequate supplies, industry insiders said.

The Bohai-Rim Steam-Coal Price Index or BSPI, which tracks domestic thermal coal spot prices at six major ports in northern China, hit 580 yuan ($85.26) per ton on Tuesday, up from 577 yuan a week ago.

The high coal prices are the result of a successful capacity reduction as part of the country's supply-side structural reform.