China's benchmark power coal price edges up

China's benchmark power coal price rose 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 558 yuan (about 80 U.S. dollars) per tonne Wednesday, a rise of 3 yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said the thermal coal market saw weak supply and demand last week due to the extended holiday caused by novel coronavirus outbreak, which also led to delay of production resumption in coal producing regions and insufficient demand for railway transport.

According to the National Development and Reform Commission, around 57.8 percent of the coal mines have resumed production by Monday. As more mines resume operation and their capacity increases, the supply shortage in some areas will be gradually eased.

Released every Wednesday, the BSPI is a leading indicator of China's coal prices.