Chinese domestic SPOT steam coal prices fell sharply this week, as the oversupply situation continues to see stockpiles virtually overflowing at power stations and ports.Import prices into South China also remain soft although they went through a correction a couple of weeks ago and it appears to have taken the domestic market a little while to catch up.Coastal freights have stabilised a little, with the average price for cargoes from Qinhuangdao (QHD) to Guangzhou (GZ) in 40-50,000t vessels down marginally at $5.27/t from $5.28/t a week ago.Meanwhile, the price for shipping coal from QHD to Shanghai in 20-30,000t vessels is up at $4.13/t from $4.06/t last week.
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