DAILY: China's thermal coal prices fall despite colder weather outlook

China's domestic thermal coal prices extended their decline on December 18, despite forecasts of colder weather sweeping parts of North China next week. Market participants remained bearish, citing the persistently loose supply and an absence of firm demand.

Prices at northern ports tumbled further on Thursday. Mysteel assessed 5,500 kcal/kg, 5,000 kcal/kg and 4,500 kcal/kg NAR thermal coal at Yuan 723/tonne ($102.7/t), Yuan 622/t and Yuan 522/t, respectively, FOB with VAT, each down Yuan 9/t from the previous day. After falling below the Yuan 750/t threshold on Tuesday,