WEEKLY: China's thermal coal rally stalls as buying dries up

China's spot thermal coal prices retreated last week (January 12-16), snapping a half-month rally as periodic restocking tapered off, which was in line with previous market expectations among many participants.

As of Friday, Mysteel assessed the 5,500 kcal/kg NAR thermal coal at Yuan 704/tonne ($101/t) FOB northern ports with VAT, down Yuan 2/t on day, marking the first decline since December 30. On a weekly basis, however, the price was still Yuan 2/t higher due to gains earlier in