DAILY: Chinese, Indonesian thermal coal prices rise in tandem

Indonesian thermal coal prices extended their upward momentum on November 10, moving in tandem with China's domestic market amid robust winter restocking demand from Chinese buyers and tight local supply in Indonesia.

Prices have been trending upward since early September, as a widened arbitrage window against Chinese domestic coal prompted more seaborne procurement. According to Mysteel's assessment, Indonesian 3,800 kcal/kg NAR thermal coal climbed from $44/tonne FOB Kalimantan on September 9 to $51.8/t on November 10, the highest since late December