DAILY: China's thermal coal market braces for further declines

Amid ongoing inventory buildup and thin trading liquidity, sentiment in China's spot thermal coal market has turned overwhelmingly pessimistic on December 8, with most insiders expecting prices to continue declining this week.

On Monday, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 789/tonne ($111.6/t), FOB northern ports with VAT, down Yuan 7/t from last Friday. The assessments for 5,000 kcal/kg and 4,500 kcal/kg NAR grades each fell Yuan 8/t to Yuan 689/t and Yuan 588/t, respectively. However, many offers