China’s Qinhuangdao port index for thermal coal (of 5500 kilocalories per kilogram energy value) has fallen to 410-420 yuan per tonne ($US65.78-67.39/t) as of Sunday, according to Chinese transport data.
This price range, a fall from 420-430 yuan/t in the previous week, is considered the lowest price since July 2006 according to Bloomberg.
Coal stockpiles at the port were reportedly up by 420,000t to 6.34Mt.
The Qinhuangdao port price compared to Newcastle spot prices of $61.85/t last week, with these prices based on 6000Kcal/kg standard coal, giving Australian exported thermal coal to China a price advantage even after import tariffs of 6% are added to the cost.
