DAILY: China's portside thermal coal inventories plummet on transport woes

Spot thermal coal prices at China's northern transfer ports inched up on July 30, supported by elevated costs and concerns over potential supply tightness in early August. However, the gains were limited by sluggish demand, as persistent rainfall continued to dampen coal consumption in South China.

On Wednesday, Mysteel assessed 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal at Yuan 652/tonne ($90.6/t), Yuan 587/t, and Yuan 523/t, respectively, FOB northern ports with VAT, each up by Yuan 1/t from the previous day. These modest gains extended the upward trend that began on July