DAILY: China's portside thermal coal prices under downward pressure

China's thermal coal prices at northern transfer ports remained unchanged on October 5, as demand from coastal power plants showed no signs of recovery. This, coupled with growing port-wise inventories, may pose downward pressure on spot coal prices.

On Tuesday, Mysteel assessed the trading prices of 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal all unchanged on day at Yuan 855/tonne ($119.9/t), Yuan 755/t and Yuan 665/t, respectively, on a FOB northern ports basis with VAT. The assessments have been stable for 14 consecutive trading