China Coal Price Falls to Three-Year Low as Inventories Rise
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The benchmark price for China’s power-station coal fell to the lowest in more than three years as increased imports of the fuel boosted stockpiles amid a slowdown in power generation.
Spot coal with an energy value of 5,500 kilocalories per kilogram at the port of Qinhuangdao was at a range of 615 yuan ($98.85) to 625 yuan a metric ton as of yesterday, down 5 yuan from the week before, according to data today from the China Coal Transport and Distribution Association. That’s the lowest price since Oct. 19, 2009, according to data compiled by Bloomberg. Stockpiles of the fuel at the port rose 3.6 percent to 7.45 million tons, the highest in a month.