China coal prices con­tinue to drop

China Daily (USA) - - BUSINESS -

China’s coal prices con­tin­ued to drop this week, a key price in­dex showed. The Bo­hai-Rim Steam-Coal Price In­dex, a gauge of coal prices in north­ern China’s ma­jor ports, fell 0.5 per­cent from a week ago to 601 yuan ($87.22) per tonne, ac­cord­ing to Qin­huang­dao Ocean Ship­ping Coal Trad­ingMar­ket Co Ltd. It was the third straight week of price de­cline since the Na­tional De­vel­op­ment and Re­form Com­mis­sion in­tro­duced mea­sures to re­plen­ish coal sup­ply as prices rose. Ex­change Trad­ing Sys­tem. In China’s spot for­eign ex­change mar­ket, the yuan is al­lowed to rise or fall by 2 per­cent from the cen­tral par­ity rate each trad­ing day. The cen­tral par­ity rate of the yuan against the US dol­lar is based on a weighted av­er­age of prices of­fered by mar­ket mak­ers be­fore the open­ing of the in­ter­bank mar­ket each busi­ness day.

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