China Coal Prices Rise to Four-Month High on Railway Repairs
By Bloomberg News - Apr 17, 2011 11:38 PM GMT-0500
The price of power-station coal at Qinhuangdao, a Chinese benchmark, rose to a four-month high after railway maintenance cut supplies to the northern seaport.
Coal with an energy value of 5,500 kilocalories per kilogram gained 1.3 percent to 785 yuan ($120) to 800 yuan a metric ton as of today compared with a week earlier, according to data from the China Coal Transport and Distribution Association. That’s the highest since Dec. 13.
Daqin railway, linking Datong city in the northern coal- producing province of Shanxi to Qinhuangdao port, started a one- month overhaul this month, the official Xinhua News Agency said on April 5. Stockpiles at the port, which ships half of China’s seaborne coal, fell 7.8 percent to 5.9 million tons from a week earlier, according to the association’s data.
“The main reason for the inventory drop and price increase is because of the maintenance at Daqin,” David Fang, a director at the association, said by telephone in Beijing. “Also, power plants in the south are relying more on domestic coal supplies because imports have fallen.”
Coal prices at Newcastle port, an Asian benchmark, have surged as bad weather crimped output in Australia, Colombia and Indonesia, making imports less attractive to Chinese buyers. Cargoes from the New South Wales port to southern China were at a premium of more than $10 a ton to shipments from Qinhuangdao, Huang Teng, general manager at Beijing LT Consultant Ltd., a coal consultant, said on April 12.
China, the world’s biggest coal producer and consumer, may cut net coal imports this year because of higher global prices, Xia Xing, director of planning at the National Energy Administration’s coal department, said this month.
http://www.bloomberg.com/news/2011-04-18/china-coal-prices-rise-to-four-month-high-on-railway-repairs-1-.html
By Bloomberg News - Apr 17, 2011 11:38 PM GMT-0500
The price of power-station coal at Qinhuangdao, a Chinese benchmark, rose to a four-month high after railway maintenance cut supplies to the northern seaport.
Coal with an energy value of 5,500 kilocalories per kilogram gained 1.3 percent to 785 yuan ($120) to 800 yuan a metric ton as of today compared with a week earlier, according to data from the China Coal Transport and Distribution Association. That’s the highest since Dec. 13.
Daqin railway, linking Datong city in the northern coal- producing province of Shanxi to Qinhuangdao port, started a one- month overhaul this month, the official Xinhua News Agency said on April 5. Stockpiles at the port, which ships half of China’s seaborne coal, fell 7.8 percent to 5.9 million tons from a week earlier, according to the association’s data.
“The main reason for the inventory drop and price increase is because of the maintenance at Daqin,” David Fang, a director at the association, said by telephone in Beijing. “Also, power plants in the south are relying more on domestic coal supplies because imports have fallen.”
Coal prices at Newcastle port, an Asian benchmark, have surged as bad weather crimped output in Australia, Colombia and Indonesia, making imports less attractive to Chinese buyers. Cargoes from the New South Wales port to southern China were at a premium of more than $10 a ton to shipments from Qinhuangdao, Huang Teng, general manager at Beijing LT Consultant Ltd., a coal consultant, said on April 12.
China, the world’s biggest coal producer and consumer, may cut net coal imports this year because of higher global prices, Xia Xing, director of planning at the National Energy Administration’s coal department, said this month.
http://www.bloomberg.com/news/2011-04-18/china-coal-prices-rise-to-four-month-high-on-railway-repairs-1-.html
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