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 560 yuan (about 79.71 U.S. dollars) per tonne Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said that although the spot market showed signs of stabilization and recovery, the pattern of supply and demand was still weak and the pessimism was constantly accumulating in the market.

Affected by the southward movement of strong cold air, the daily consumption of power plants has increased. However, as the 2020 coal trade fair will be held soon, the low volume purchase has increased the bargaining power of high price, which restricted the demand.