DAILY: China's portside thermal coal prices slump amid weaker sentiment

The downtrend of Chinese portside thermal coal market accelerated on December 2, as traders cut prices more aggressively to stimulate buying interest. However, this exacerbated the prevailing bearish sentiment, likely prompting buyers to act more cautiously, Mysteel Global notes.

On Tuesday, Mysteel's assessment for the benchmark 5,500 kcal/kg NAR coal fell Yuan 6/t on day to Yuan 812/tonne ($114.9/t), FOB northern ports with VAT, marking the largest daily decline since the downturn started on November 21. Assessments for the 5,000 kcal/kg and 4,500 kcal/kg NAR grades were Yuan