BEIJING, Jan. 1 (Xinhua) -- China's benchmark power coal price dropped slightly during the past week as a large amount of imported coal is about to enter the market and domestic inventory remains high.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports, stood at 569 yuan (around 82.91 U.S. dollars) per tonne, down from 570 yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
The price was also 1.39 percent lower than that of the same period a year ago.
Analysts said the power coal price was under pressure and market expectations stayed bearish.
Renewed customs clearance quota for coal imports in 2019 will unleash abundant supplies from abroad, and coal stockpiles in coal-fired plants, although likely to fall below 16 million tonnes soon, were still substantially higher than a year ago.
China is in the middle of capacity cutting in its overloaded coal sectors.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Conference and Exhibition 2018 Was held at Meijiang Convention and Exhibition Center in Tianjin in October 18-20, 2018. We invite you to join the event and to celebrate the 20th anniversary of CHINA MINING with us. For more information about CHINA MINING 2018, please visit: www.chinaminingtj.org.
