China prices retreat at Beijing's request

摘要

China domestic spot coal prices fell over the week in line with the government's intervention to cool the market.Trading activity was limited as suppliers with spot sources were sidelined following the government's decision to put a tight cap on transactional prices.All the deals reported to Argus, and the market survey submissions, were at the same price of 750 yuan/t on a fob Qinhuangdao basis, which was the capped limit required by the National Development and Reform Commission (NDRC) with effect from 5 February. The new price of Yn750/t was down by Yn15/t on the week. In dollar terms, the weekly price assessment dropped by $2.90/t to $118.77/t.