Monday,Jul 18, 2011
China’s benchmark thermal-coal price fell for the first time in almost five months after power stations built up inventories of the fuel for the summer.
Coal with an energy value of 5,500 kilocalories per kilogram at Qinhuangdao port declined 0.9 percent to 840 yuan ($130) to 850 yuan a metric ton as of today compared with a week earlier, according to data published on the website of Beijing- based China Coal Transport and Distribution Association. That’s the first decline since Feb. 28.
China’s power plants typically complete fuel stockpiling before peak summer demand in July through September. Inventories at major power plants increased 7.6 million tons from a year earlier to 65.4 million tons at the end of June, equivalent to 18 days of consumption, the National Development and Reform Commission said in a statement on its website today.
Industrial production in June exceeded forecasts by economists, helping support coal prices because of electricity demand from factories.
Coal stockpiles at Qinhuangdao, which ships half the nation’s seaborne coal, fell 2.6 percent to 7.08 million tons, the second straight week of decline, according to today’s data. (By Bloomberg )
China’s benchmark thermal-coal price fell for the first time in almost five months after power stations built up inventories of the fuel for the summer.
Coal with an energy value of 5,500 kilocalories per kilogram at Qinhuangdao port declined 0.9 percent to 840 yuan ($130) to 850 yuan a metric ton as of today compared with a week earlier, according to data published on the website of Beijing- based China Coal Transport and Distribution Association. That’s the first decline since Feb. 28.
China’s power plants typically complete fuel stockpiling before peak summer demand in July through September. Inventories at major power plants increased 7.6 million tons from a year earlier to 65.4 million tons at the end of June, equivalent to 18 days of consumption, the National Development and Reform Commission said in a statement on its website today.
Industrial production in June exceeded forecasts by economists, helping support coal prices because of electricity demand from factories.
Coal stockpiles at Qinhuangdao, which ships half the nation’s seaborne coal, fell 2.6 percent to 7.08 million tons, the second straight week of decline, according to today’s data. (By Bloomberg )
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