According to the data released by MOFCOM, the domestic raw price decreased by 0.2% last week as compared to prior week. Looking at the price in detail, the prices for bituminous coal slipped by 0.5% week over week but for brown coal and anthracite coal were flat on aggregate as compared to prior week.
Experts said that the declining demands both from steel and cement industry are the main reasons for the recent price dips. Meanwhile, it is reported that the coal inventories for domestic power plants are abundant at present, which are also acting as a propellant for the price drops.
However, the price for coking coal is still hovering around comparatively stable levels at present and the transaction deals have turned better than previous time.