Published: 10 May 2010 23:45:11 PST
SHANGHAI, May 11 - Spot thermal coal prices in China's top port Qinhuangdao rose for a fourth straight week to their highest levels since end of 2009 as stockpiling demand in power plants rises ahead of summer, traders said on Tuesday.
"Power plants are buying coal ahead of hot weather in July and August, especially as the overall economic environment has improved and is supporting coal consumption," said a coal trader based in the eastern province of Zhejiang.
Coal with calorific value of 5,800 kcal/kg (NAR) gained 10 yuan from a week earlier to about 775 yuan to 785 yuan per tonne, the Qinhuangdao Seaborne Coal Market said .
Prices for coal with calorific value of 5,500 kcal/kg rose by 3 percent on the week to 740 yuan to 750 yuan per tonne, the website said.
"Power plants are all stockpiling. There's no doubt that coal prices will continue to rise before July," said a trader based in the southern province of Guangdong, adding that prices could start to weaken at the end of July.
But demand for imported coal had not increased strongly, traders said.
Coal stockpiles in Qinhuangdao rose about 2 percent from a week earlier to 4.8 million tonnes, sxcoal.com also said, quoting port data.
Source: http://news.alibaba.com/article/detail/energy/100297222-1-china-coal-prices-extend-gains-pre-summer.html
SHANGHAI, May 11 - Spot thermal coal prices in China's top port Qinhuangdao rose for a fourth straight week to their highest levels since end of 2009 as stockpiling demand in power plants rises ahead of summer, traders said on Tuesday.
"Power plants are buying coal ahead of hot weather in July and August, especially as the overall economic environment has improved and is supporting coal consumption," said a coal trader based in the eastern province of Zhejiang.
Coal with calorific value of 5,800 kcal/kg (NAR) gained 10 yuan from a week earlier to about 775 yuan to 785 yuan per tonne, the Qinhuangdao Seaborne Coal Market said .
Prices for coal with calorific value of 5,500 kcal/kg rose by 3 percent on the week to 740 yuan to 750 yuan per tonne, the website said.
"Power plants are all stockpiling. There's no doubt that coal prices will continue to rise before July," said a trader based in the southern province of Guangdong, adding that prices could start to weaken at the end of July.
But demand for imported coal had not increased strongly, traders said.
Coal stockpiles in Qinhuangdao rose about 2 percent from a week earlier to 4.8 million tonnes, sxcoal.com also said, quoting port data.
Source: http://news.alibaba.com/article/detail/energy/100297222-1-china-coal-prices-extend-gains-pre-summer.html
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