DAILY: Indonesian supply concerns prop up thermal coal prices in China

China's spot thermal coal prices extended their upward trend on February 11, supported by rising concerns over potential supply tightness linked to Indonesia's planned production cuts. The concerns encouraged not only speculative restocking but also pre-holiday buying by some end-users.

On Wednesday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 707/tonne ($102.4/t) FOB northern ports with VAT, up Yuan 2/t on day. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades both gained Yuan 3/t to Yuan 626/t and Yuan 539/t, respectively. Driven by renewed speculative interest, traders at northern