DAILY: China's thermal coal rally falters as policy enthusiasm cools

China's domestic thermal coal prices witnessed softer gains on July 23 as the market viewed the impact of the eye-catching policy to rein in coal overproduction weaker than initially expected.

On July 22, a piece of news was widely circulating across the industry that the National Energy Administration (NEA) is planning to conduct inspections in the eight key producing regions to identify and penalize coal mines operating beyond their approved capacity by more than 10%, as Mysteel Global reported. The