China's benchmark power coal price stays flat
BEIJING -- China's benchmark power coal price remained unchanged during the past week as demand for electricity started to retreat after the peak season.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports, stood at 568 yuan (around $82.67) per tonne in the past week, the same as a week ago, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said power coal sales and price were facing pressures. Coal-burnt plants have started to suspend generators for examination as summer is ending, and some corporate consumers have delayed purchase plans betting on price declines.
The benchmark price was 2.24 percent lower than that in the same period of 2017.
China is in the middle of capacity cutting in its overloaded coal sectors, with plans to reduce a further 150 million tonnes of capacity this year.
