DAILY: China thermal coal market reaches fragile truce, risks linger

China's portside thermal coal prices showed signs of stabilization on December 26 after falling for more than a month. However, the market failed to establish a clear price floor, pressured by high inventories, expectations of recovering supply, and unseasonably warm weather.

The persistent declines in offering prices at northern ports came to an end on Friday, as many traders were reluctant to offer discounts, citing higher cost due to miners' price increases and contracted production in major producing hubs, sources noted. Specifically, offers were heard around Yuan 690-705/tonne ($98.4-100.6/t) for 5,500