WEEKLY: China's thermal coal prices soar, but strengths may wane

The Chinese spot thermal coal market was rising fast throughout the previous week (November 3-7), as strong seasonal consumption fueled the bullish sentiment, driving the market upward even at a time when supply had improved moderately.

Several waves of cold air sweeping across northern China prompted some places to start central heating to households earlier than usual, lifting coal consumption at power and heat plants. According to Mysteel's survey on 493 coal-fired power plants across the nation, their daily coal consumption averaged 4 million tonnes over