MONTHLY: China thermal coal faces muted price swings in holiday-heavy Feb

Thermal coal prices in China are expected to fluctuate within a narrow range in February, as the Chinese New Year holiday which this year spans February 15 to 23 typically suppresses both supply and demand, which this month should leave the market broadly balanced but lacking momentum, Mysteel said in its monthly outlook for the commodity.

In January, spot prices at northern ports showed only mild volatility. The benchmark 5,500 kcal/kg NAR coal opened the month at Yuan 690/tonne ($99.5/t), rose to Yuan 706/t in mid-January, then retreated to Yuan 693/t before closing at Yuan 699/t on January 30, according to Mysteel assessments. Earlier in the