DAILY: Deepened pessimism drives China's thermal coal prices lower

China's spot thermal coal market continued to weaken on December 9, extending losses for more than two weeks amid a growing supply-demand imbalance, Mysteel learned.

On Tuesday, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 780/tonne ($110.4/t), FOB northern ports with VAT, down Yuan 9/t from Monday. The 5,000 kcal/kg NAR grade slipped Yuan 10/t to Yuan 679/t, while the 4,500 kcal/kg NAR grade fell Yuan 8/t to Yuan 580/t. The indices