DAILY: China's thermal coal holds steady, new momentum brewing

Due to the lack of a discernible recovery in demand, China's spot thermal coal prices at northern transfer ports remained sideways on November 18. Nevertheless, cost support stayed relatively firm amid the rising mine-mouth prices, suggesting the possibility of a fresh upward surge.

According to Mysteel's assessment, the prices of 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal at northern ports on Tuesday were Yuan 830/tonne ($116.7/t), Yuan 737/t, and Yuan 638/t, respectively, on a FOB basis with VAT. These prices were unchanged from the previous day. Trading activity remained lackluster