DAILY: China's thermal coal holds firm as port inventories fall

Spot thermal coal prices at China's northern ports held broadly steady on January 29, supported by continued inventory drawdowns and firm spot offers, although market confidence softened amid muted downstream demand.

On Thursday, Mysteel assessed 5,500 kcal/kg NAR coal at Yuan 698/tonne ($100.4/t), FOB northern ports with VAT, up Yuan 2/t on day. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades also rose Yuan 2/t to Yuan 613/t and Yuan 524/t, respectively. Portside offers were largely seen around Yuan 695-705/t for