WEEKLY: Supply concerns send China's thermal coal prices higher after CNY holiday

China's thermal coal market extended its upward trend in the first working week (February 2428) after the Chinese New Year (CNY) holiday, driven primarily by concerns over supply shortages linked to Indonesia's planned production cuts. Post-holiday restocking, particularly for high-quality cargoes, also supported price gains.

As of February 28, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at northern transfer ports at Yuan 748/tonne ($109/t) FOB with VAT, up from Yuan 721/t on February 14, the last working day before the holiday. Lower grades saw larger increases over the same period, with 5,000