Power coal prices in East China continually dropped during the past month, which showed weakened demand of the domestic coal market, the Securities Time reported Wednesday. According to statistics on the coal trade website of the Qinhuangdao Port, the price dropped quickly in the middle of July.
The price 5,500-kilocalorie (kcal) and 5,800-kcal coal decreased 5 yuan ($0.77) in three electricity plants in Shanghai and Jiangsu province, while the price for each ton of 5,000-kcal coal decreased 10 yuan. The report said the coal storage in East China remained at the same level as during the first 10 days of July, which showed the market became stable with lower demand.
The China National Coal Association said China's coal production growth in the first half of 2011 is almost balanced with its consumption growth during the same period.