DAILY: Mine closures, cold snap outlook lift China's thermal coal prices

China's spot thermal coal prices extended a moderate uptrend on January 28, supported by the tightening supply as private mines gradually suspend operations ahead of the Chinese New Year holiday. Expectations of rising coal burn amid a fresh cold snap forecast to sweep large parts of the country also lent some support.

On Wednesday, Mysteel assessed 5,500 kcal/kg NAR coal at Yuan 696/tonne ($100.2/t), FOB northern ports with VAT, up Yuan 1/t on day. The 5,000 kcal/kg NAR grade rose Yuan 2/t to Yuan 611/t, while the 4,500 kcal/kg NAR grade gained Yuan 3/t to Yuan 522/t. Coal supply was contracting as