China's benchmark power coal price almost unchanged

SHIJIAZHUANG - China's benchmark power coal price remained almost unchanged during the past week.

The Bohai-Rim Steam-Coal Price Index, a gauge of coal prices in northern China's major ports, stood at 577 yuan ($84) per ton Wednesday, down 1 yuan compared with last Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co Ltd.

Analysts attributed the lukewarm prices to the supply-demand equilibrium in the market.

The high inventory and low consumption of coal in power plants remained unchanged. The coal stock in major plants in China's coastal areas hit a year-on-year high while their consumption was the lowest year on record since 2013, causing downward pressure on the price of power coal in the short term.