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Hebei Jul coal prices slide amid weak demand

Coal prices in Hebei province – a major coal production area in north China – slid in July this year, showed data from the Hebei Price Bureau on August 24.

The average price of thermal coal stood at 401 yuan/t ($65.52/t) in July, falling 3.5% from June and 11.9% lower than the start of the year; that of washed coking coal stood at 689 yuan/t, edging down 0.5% on month and down 6% from the start of the year, data showed.

The province’s coal prices posted a sharp drop over March-June, mainly due to persisting oversupply vis-à-vis weak demand.

In the first half of the year, commercial coal prices at Hebei averaged 338.73 yuan/t, falling 19.15% from a year ago and 14.6% lower than end-2014. The average price of washed coking coal and thermal coal fell 20.97% and 19.05% from the year prior, separately, the bureau said.

Coal prices may stay low in the second half of the year, given the current flat demand from power plants and steel mills and competition from imported coal, said the bureau.

source: http://en.sxcoal.com