DAILY: China's low-CV thermal coal prices pick up as demand improves

After falling for more than a month, China's domestic thermal coal market gained new momentum on December 29. Spurred by fresh inquiries, the low-calorific value (CV) coal prices rebounded, while declines for mid- and high-CV grades were grinding to a halt.

On Monday, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 686/tonne ($97.9/t), only shedding Yuan 1/t from last Friday, while the 5,000 kcal/kg NAR grade held steady at Yuan 585/t, both on a FOB northern ports basis with VAT. The assessment for 4,500 kcal/kg NAR grade even