China's benchmark power coal price rose 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 619 yuan (about 98.52 U.S. dollars) per tonne Wednesday, a rise of 24 yuan week on week, according to the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Due to warmer weather and the upcoming Spring Festival holiday, power plants have eased their demand for coal, with the daily coal consumption seeing a marked decrease, analysts said.
But coal prices posted big rises week on week over medium and low inventory levels and better prospects for work and production resumption after the Spring Festival holiday.
Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd. every Wednesday, the BSPI is a leading indicator of China's coal prices.
