WEEKLY: China's thermal coal prices fall on high inventories

China's thermal coal prices continued their downward trajectory over the week of March 17-21, as bloated inventories and tepid demand kept market sentiment bearish. Major coal producers ramped up efforts to offload excess stock, prompting a wave of price cuts in the spot market, industry sources said.

As of March 21, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 680/tonne ($93.7/t), a four-year low, while 5,000 kcal/kg NAR thermal coal at Yuan 590/t, both shedding Yuan 10/t from the previous week. The assessment for 4,500 kcal/kg NAR thermal coal dipped by Yuan 5/t on week