DAILY: Chinese domestic market shrugs off Indonesia output cut drama

China's domestic thermal coal market held steady on February 4, showing limited reaction to Indonesia's proposed production quota cuts, as holiday-related slowdowns subdued trading activity.

On February 4, Mysteel assessed the 5,500 kcal/kg, 5,000 kcal/kg and 4,500 kcal/kg NAR thermal coal at Yuan 700/tonne ($100.8/t), Yuan 615/t and Yuan 526/t, respectively, on an FOB northern ports basis with 13% VAT, unchanged from the previous day. Prices have now moved sideways for two consecutive sessions