MYSTEEL: China's post-holiday thermal coal market gains momentum

China's spot prices for thermal coal have strengthened this week after the country reopened for business on February 24 from the Chinese New Year (CNY) break. Tightening domestic availability, coinciding with Indonesia's planned production quota cuts, is raising concerns about near-term supply and lifting market sentiment.

According to Mysteel's assessment, on February 25 the benchmark 5,500 kcal/kg NAR thermal coal price reached Yuan 731/tonne ($106.9/t), FOB northern port with VAT, compared with Yuan 721/t recorded on February 14, the last working day ahead of the holiday. Domestically, the post-CNY recovery across private mines in major producing