WEEKLY: China's thermal coal prices plateau on slowed buys

China's domestic thermal coal market gradually stabilized last week (November 10-14) following previous strong rebounds, as buyers increasingly held back on procurement to counter rising prices. Nonetheless, underlying demand remained firm and is expected to further buoy the market, especially with colder weather conditions still developing.

As of Friday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 830/tonne ($116.8/t) FOB northern ports with VAT, up Yuan 15/t from a week earlier. The weekly gain narrowed notably from the Yuan 46/t increase recorded during October 31–November 7. Early in the week, steady sales and hefty costs