Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last week, with steam coal over 5,500 kilocalories rising to 600 yuan per ton on September 18, according to statistics provided by China Coal Trade & Development Association (CCTDA).
Li Zhaolin, an analyst with China Coal Market Web, said that the power plants were striving to increase coal reserve to ensure power supply during the National Day holidays. "Judging from the power generation data in August, downstream demand is increasing," Li said.
Last week, the National Development and Reform Commission (NDRC) urged power plants in Beijing, Tianjin and Tangshan to reserve enough coal to guarantee power supply during the National Day holidays.
According to the CCTDA's latest weekly journal, as power plants in southern China want more coal, stockpile at Qinghuangdao port is decreasing.
By September 19, coal stockpile at Qinghuangdao port was 4.40 million tons, 65,000 tons lower than the previous week. Stockpile at Guangzhou port fell by 190,000 tons to 2.09 million tons.
By People's Daily Online