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Coal price sees 1st drop in 3 months

By Ben Yue (chinadaily.com.cn)
Updated: 2011-07-06 15:45
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In late June, the price of power coal dropped up to 20 yuan ($3)?per ton in the east coast region, the first decrease in three months, 皇冠体育app Securities Journal reported on Wednesday.

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However, during the week between June 28 to July 4, power coal stocks at four ports around the Bohai Bay increased 10.53 percent from the previous week to 15.96 million tons.

However, the report said the price fluctuation won't be too dramatic since the summer peak is still not over, according to an industry insider, who also said the massive amount of rain this year has helped with the electricity shortages since more hydro-powered electricity has been generated.