Chinese Coal Producers Selling at Lowest Prices in Five Years

The Wall Street Journal’s MarketWatch reported that a number of China’s largest coal producers are now selling the fuel below $98 per ton, the lowest level in half a decade.

As quoted in the market news:

China Coal Energy Co. , China Shenhua Energy Co. and Datong Coal Industry Co. have all lowered benchmark coal prices to below 600 yuan ($98) per ton, the Economic Information Daily reported.

China’s benchmark thermal coal prices averaged CNY603 a ton between June 19 and June 25, falling 0.7% from a week earlier, according to a government-backed coal price index published Wednesday. The Bohai-Rim Steam-Coal Price Index covers spot prices at six major coal shipping ports in northern China.

Click here to read the full MarketWatch report.