DAILY: China's thermal coal prices climb higher as sentiment heats

Spurred by persistent supply concerns and stronger demand for premium cargoes, China's spot thermal coal prices extended gains on February 26. However, most downstream buyers maintained a wait-and-see stance, closely monitoring developments in the seaborne market.

On Thursday, Mysteel observed prevailing offers at northern transfer ports rise by another Yuan 10/tonne ($1.5/t) from the previous day, with 5,500 kcal/kg NAR coal quoted at Yuan 735-745/t, 5,000 kcal/kg at Yuan 660-670/t, and 4,500 kcal/kg at Yuan 570-580/t, FOB with VAT. Trading prices also registered notable increases. According