DAILY: China's thermal coal prices poised to bottom out

Chinese spot thermal coal prices are expected to find a floor later this month as participants anticipated a rebound in demand, citing growing inquiries for prompt cargoes, especially for mid- and low-calorific value (CV) cargoes, sources noted.

As of March 25, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 680/tonne ($93.6/t), FOB northern transfer ports with VAT, unchanged from a day earlier, while lower grades of 5,000 kcal/kg and 4,500 kcal/kg NAR were assessed at Yuan 590/t and Yuan 520/t, respectively, also flat on day. The