Power station coal price lowest in 31 months

China's benchmark power station coal price at the Qinhuangdao port in Hebei province fell to its lowest level in 31 months amid weakening domestic demand and rising imports.

Coal with an energy value of 5,500 kilocalories per kilogram fell 1.5 percent to a range of 660 yuan ($104) to 680 yuan a metric ton as of Sunday, according to the China Coal Transport and Distribution Association, the lowest price since November 2009. Stockpiles declined 5.9 percent to 8.57 million tons.

Demand for coal, the fuel for three-quarters of the nation's power plants, has faltered as an economic slowdown crimps electricity consumption.

Agencies - China Daily