During the week ending June 2, coal settlement prices in the northern Chinese port city of Qinhuangdao in general decreased by RMB 5-10/mt.
On June 2, the settlement price of Datong quality mix (6,000 Kcal/kg) was RMB 775-785/mt, while the settlement price of Shanxi quality mix (5,500 Kcal/kg) was RMB 750-760/mt, down RMB 10/mt and RMB 5/mt respectively week on week.
In the two months up to May 17, Qinhuangdao coal transaction price saw massive increases. On May 17, 4,500 Kcal/kg, 5,000 Kcal/kg, 5,500 Kcal/kg and 6,000 Kcal/kg coal prices were at RMB 580-590/mt, RMB 655-665/mt, RMB 755-765/mt and RMB 785-795/mt respectively, up 13.6 percent, 14.8 percent, 12.6 percent and 9.0 percent over the previous two months.
Insiders say that, since at Qinhuangdao coal supply is stable, and since supply and demand in the coal market is balanced, in the absence of unforeseen circumstances, coal prices at the port will not change much in the coming period.