SHIJIAZHUANG, Feb. 10 (Xinhua) -- China's benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in northern China's major ports, stood at 617 yuan (about 95.82 U.S. dollars) per tonne Wednesday, a drop of two yuan week on week, according to the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said as the Spring Festival holiday approached, coal production activities in all sectors were slowing down. With the inactivity of market transactions, the decline of coal prices also slowed down.
Affected by the drop in demand, production and sales in the main coal producing areas were weak before the Spring Festival. Due to the increase in coal stocks in ports, the tight supply and demand in the coal market has been improved.
Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd. every Wednesday, the BSPI is a leading indicator of China's coal prices. Enditem
