China's benchmark power coal price drops slightly

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 north China's major ports, stood at 551 yuan (about 77.9 U.S. dollars) per tonne Wednesday, a drop of nine yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said that on the eve of the annual coal trade fair, due to the wait-and-see attitude taken by coal traders, the trading activity of the coastal coal market was weakened, and the positive factors failed to play an effective role.

At present, there was a decline in coal prices on long-term contracts, resulting in a major constraint on spot prices, according to analysts.