DAILY: Speculation fuels surges of China's thermal coal prices

China's thermal coal market saw another sharp price rally on November 6, as traders continued robust buying amid bullish sentiment about winter heating demand and potential supply constraints.

Under Mysteel's assessment, spot prices for 5,500 kcal/kg NAR thermal coal at northern transfer ports jumped by Yuan 16/tonne ($2.2/t) on day to Yuan 810/t FOB with VAT on Thursday. The 5,000 kcal/kg NAR grade logged a sharper Yuan 17/t rise to Yuan 718/t, while the 4,500 kcal/kg NAR