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Chinese Domestic Steam Coal Price Stabilises as Stockpiles Fall

Coal

After falling for 12 weeks in succession, the indicative price of steam coal in northern China was unchanged at the end of last week at $66.70/t, according to CQ Coal. At the same time, combined coal stockpiles at four key northern Chinese ports dropped to their lowest level since late January at 21.5 Mt, while the Supramax coastal coal freight rate from the northern port of Qinhuangdao to Guangzhou in the south rose to its highest level for a year at $6.50/t, according to the Shanghai Shipping Exchange.