DAILY: China's benchmark thermal coal expected to fall below Yuan 800/t

China's thermal coal prices at northern transfer ports weakened further on November 27, given the muted spot demand from end-users. With little expectation of a near-term demand recovery, many traders anticipate the benchmark 5,500 kcal/kg NAR coal price to fall below the Yuan 800/tonne ($113.1/t) mark soon.

On Thursday, Mysteel's assessment for the benchmark 5,500 kcal/kg NAR coal fell by a larger Yuan 4/t on day to Yuan 822/t, FOB northern ports with VAT, sending the total declines to Yuan 8/t in three sessions. Meanwhile, assessments for the 5,000 kcal/kg and 4,500 kcal/kg NAR grades each