SHIJIAZHUANG, Feb. 24 (Xinhua) -- China's benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in northern China's major ports, stood at 614 yuan (about 95.04 U.S. dollars) per tonne Wednesday, down 3 yuan week on week.
Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd. every Wednesday, the BSPI is a leading indicator of China's coal prices.
Analysts said the continued decline in the price of power coal has led to strong bearish sentiment. Affected by factors such as high temperature, the recovery of coal consumption was slower than expected, resulting in the accumulation of coal stocks. Enditem