MONTHLY: Ample supply to keep pressure on China's thermal coal prices in Dec

China's spot market for thermal coal entered December with a notable shift in fundamentals, with supply remaining ample while demand stayed subdued. Under such a loose supply- demand structure, prices are likely to trend lower through till the end of the month unless extreme weather conditions emerge to offer support, Mysteel Global predicts.

At northern transfer ports, prices continue the slide that began in late November, with swelling inventories, weak sales, bearish sentiment, and lower-than-expected coal burn at utilities all weighing on sellers during the first few days of December. On December 3, Mysteel assessed the benchmark 5,500 kcal/kg NAR coal at Yuan