DAILY: China's thermal coal market shrugs off cold weather forecast

China's domestic thermal coal market stabilized on January 15 after completion of a recent restocking cycle, ending its half-month rally. Despite a new forecast of a widespread temperature drop across the country, it failed to generate fresh upside momentum.

On Thursday, prices of 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal stabilized at Yuan 706/tonne ($101.3/t), Yuan 620/t, and 528/t, FOB northern ports with VAT, respectively, all flat from a day earlier, putting an end of a consecutive rise since December 30, according to Mysteel's assessment. Recently,