Qinhuangdao coal price rises on increased power demand
Tuesday, 22 Sep 2009
Bloomberg reported that coal prices at China’s Qinhuangdao port rose for a second week on increased demand from power plants.
According to data published by the China Coal Transport and Distribution Association, the price of coal with an energy value of 5,500 kilocalories a kilogram gained 3% to between CNY 590 (USD 86) and CNY 610 in the week ended September 21 compared with assessments in the previous week.
The association in a report last week said tat stockpiles at the country’s largest coal port fell sharply on reduced imports and high demand from power plants.
Mr Wang Ye chief coal analyst with Citic Securities Ltd said that “Power demand, especially thermal-power generation, is increasing at a faster pace than expected which shows a real rebound from the demand side.”
