DAILY: Indonesian thermal coal prices firm on active tender activity

Indonesian thermal coal prices remained resilient on March 11, bolstered by active tender invitations by Chinese coastal power utilities. However, many Chinese traders remained hesitant to take positions due to the extremely thin profit margins.

On Tuesday, March/April-loading cargoes of Indonesian 3,800 kcal/kg NAR thermal coal remained sufficient in the market, with Panamax shipments quoted at $51-52/tonne FOB Kalimantan. Some deals were closed at $51.5/t for April delivery, according to sources. "There's little expectation for a price correction in the near term, considering the recent