Thermal coal prices increase slightly in northern China's Inner Mongolia last month, said the regional development and reform commission.
In August, thermal coal mine-mouth prices averaged 200.64 yuan/t ($30.75/t) in the region, slightly growing 0.39% from July and surging 42.64% from a year ago, the commission noted.
Of that, lignite mine-mouth prices averaged 150.78 yuan/t in the eastern region, up 0.84% from a month ago and 41.65% higher than a year ago; Ordos thermal coal prices stood on average at 273.89 yuan/t on a mine-mouse basis, up 5.3% month on month and 58.01% year on year.
The average purchasing price at which utilities buy thermal coal from miners or traders edged up 2.22% on month to 201.05 yuan/t in August. That translated into an average price of standard coal (with 7,000 Kcal/kg NAR) of 365.70 yuan/t, up 0.60 % month on month.
During the month, purchasing prices of power generation coal averaged 157.65 yuan/t in the eastern region, down 2.96% from the month prior but up 20.28% from the previous year; western Inner Mongolia's average purchasing price of power coal rose 5.23% on the month and 59.04% on the year to 235.78 yuan/t.
The commission expected coal prices to go up further in September on the back of robust restocking demand from utilities. Sustained strong power demand from industrial sectors will also help drive coal prices, it said.
(Writing by Alex Guo Editing by Harry Huo)
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