China's thermal coal mines quietly clip their prices

A growing number of thermal coal miners in China's major producing regions are quietly lowering their selling prices, underscoring their bearish outlook for the market, Mysteel Global has learned.

Since the beginning of this week, operators of some coal mines in Shanxi, Shaanxi, and Inner Mongolia – the country's three largest coal mining hubs – have cut prices by Yuan 20-40/tonne ($2.8-5.5/t) for various types, according to sources. This move appears to be aimed at accelerating stockpile turnover