Coal prices accelerate decreasing on seasonal factors

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

25 Feb 2010

According to the sources from Qinghuangdao Port, the coal prices continued falling. Take Shanxi high-quality mixed coal price as example, it decreased by 40 yuan per ton or 5.23% a week before Spring Festival, and the decrease rate expanded 3.77% week on week. It is the third consecutive weeks since the coal prices declined at Qinghuangdao Port. Prior to this, coal prices remained rising in recent 7 months at Qinghuangdao Port.
Wang Weibo from a Research Center believed that the falling of coal prices at Qinghuangdao Port is due to the adjustment after the previous price soaring. Data indicated that steam coal price was up by 40% from September, 2009 to January, 2010. The price rising is mainly promoted by seasonal factors.

Source: MetalBiz