WEEKLY: China's thermal coal market slides despite strong global cost support

China's spot thermal coal prices declined slightly last week (March 2-6), mainly pressured by softening domestic fundamentals despite strengthening international cost supports, intensifying the tug-of-war between domestic and seaborne prices.

Domestic coal supply recovered rapidly as coal mines across major producing regions accelerated resumptions post the Chinese New Year holiday over February 15-23. Daily output at 462 thermal coal mines that Mysteel surveys across the country averaged 5.36 million tonnes over February 27-March 5, up 9.1% on week. The swift