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China's benchmark power coal price edges up

Updated: Jan 13,2021 08:47 PM    Xinhua

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 596 yuan ($about 92.02) per metric ton on Jan 13, a rise of 3 yuan week-on-week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co Ltd.

Analysts said transport disruptions and higher transport costs helped further drive up the coal price.

The major coal-producing regions of Shanxi and Inner Mongolia have beefed up management and control of vehicles from Hebei, which is amidst the latest outbreak of COVID-19, thus hurting the medium- and long-distance coal transport capacity.

Meanwhile, sea ice has appeared in parts of the Bohai Sea and the Yellow Sea and this has pushed up the coal shipping transport costs and hurt the shipping efficiency.

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

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