DAILY: China's benchmark thermal coal rebounds to Yuan 700/t threshold

China's spot thermal coal prices extended their rebound on January 8, supported by ongoing port inventory drawdowns, elevated production costs and expectations of stronger coal burn as winter deepens, even as overall trading activity remained subdued, sources said.

On January 8, Mysteel assessed 5,500 kcal/kg NAR coal at Yuan 700/tonne ($100.3/t), FOB northern ports with VAT, up Yuan 3/t on day. This marked its first return to the Yuan 700/t level since December 24. Lower-calorific value grades continued to outperform, with 5,000 kcal/kg and 4,500 kcal/kg NAR coal