BEIJING, Mar. 18 -- Given declining winter demand for power and coal, China's coal market is expected to stay weak in the short run, and power coal prices may decrease 5 percent to 10 percent, the Shanghai Securities News reported on Wednesday, citing experts at a coal transaction trend conference.
Li Xuegang, an expert with cqcoal.com, said that the inflexion point appeared in late January.
Coal prices at Qinhuangdao, a benchmark in China, dropped to between 670 and 680 yuan ($117) per ton, down by 140 to 160 yuan from the peak price in early January, the report said.
Experts forecasted that demand for power coal would keep the weak trend for two months.
However, the price decrease of coal is not likely to continue for long, as China's economic recovery, narrowing price advantages of imported coal and a steady domestic supply would help stabilize coal prices, experts said.