DAILY: China's thermal coal rises on pre-holiday lower-CV buys

China's spot thermal coal market continued to edge higher on January 27, mainly driven by restocking of low- and mid-calorific value (CV) grades ahead of the Chinese New Year holiday over February 15-23, although traders cautioned that the upward momentum remained fragile.

On Tuesday, Mysteel assessed the 5,500 kcal/kg NAR thermal coal at Yuan 695/tonne ($99.9/t), FOB northern ports with VAT, unchanged from a day ago, while the lower-CV 5,000 kcal/kg and 4,500 grades were assessed at Yuan 609/t and Yuan 519/t, respectively, up Yuan 1/t and Yuan 2/t on day. Offers