DAILY: China's thermal coal softens as weak demand outweighs global energy rally

China's thermal coal market stayed subdued on March 9, as muted buying interest and mounting port inventories continued to weigh on spot prices, though soaring global energy prices helped prevent a sharper decline.

On Monday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 746/tonne ($108/t) FOB northern ports with VAT, down Yuan 2/t from last Friday, and the 5,000 kcal/kg and 4,500 kcal/kg NAR grades also slid Yuan 2/t each to Yuan 667/t and Yuan 576/t, respectively. The spot prices extended