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Friday, February 17, 2012

Bohai Thermal Coal prices fall for 14th consecutive week

Friday, 17 Feb 2012

The benchmark Bohai Rim Steam Coal Price Index which tracks power station coal prices at 6 ports fell for the 14 consecutive week due to the lingering sluggish market demand along with recent significant falls in coal prices and lower freight rates.

Data showed that the average price of thermal coal with calorific value of 5500 Kcal per kilogram clocked in at CNY 777 per tonne in the week ended February 15th 2012 down 0.26% or CNY 2 per tonne from a week earlier and indicating an aggregated decline of CNY 76 per tonne.

At Qinhuangdao port, the price of 5500 Kcal per kilogram thermal coal dropped CNY 5 per tonne to reach in the range of CNY 765 per tonne to CNY 775 per tonne. The median price level of CNY 770 per tonne was CNY 30 per tonne lower than the ceiling price imposed by the National Development and Reform Commission.

Despite depressing track records over the past weeks, thermal coal prices at the ports are expected to move up in the not too far future driven by slow recovery in coal market coupled with slight rebound in freight rates for carrying coal from the ports.

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