Chinese Coal Prices Slump to Year’s Low as Stimulus Disappoints
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The price of China’s mainstay fuel, powering millions of homes and factories, has hit the lowest level in over a year, as the government’s efforts to boost the economy fail to revive tepid demand.
The benchmark coal price at Qinhuangdao port slipped to 803 yuan ($110) a ton on Thursday, according to Chinese news outlet Thermal Group, which is close to the break-even level for cargoes traveling from remote mines in western China. It’s also the lowest since June last year, when prices briefly dropped below 800 yuan.