China's benchmark power coal price remains flat

China's benchmark power coal price remained flat 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 578 yuan (about 81.2 U.S. dollars) per tonne Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said that affected by the tightening supply of coastal coal market, some traders are reluctant to sell, resulting in a high level of bullish market sentiment.

Meanwhile, due to the rising temperature in south China, the daily consumption of coastal power plants continued to run at around 700,000 tonnes, about 100,000 tonnes higher than the same period last year.

Combined with the impact of smooth control policies on imported coal, trading activity in domestic market has increased, and buyers' counter-offer has weakened, according to analysts.