MYSTEEL: China's thermal coal shows stark mismatch between equity, spot markets

Source: Mysteel Mar 12, 2026 17:40

China's market for thermal coal and that for the shares of companies mining the coal showed a clear divergence on March 12.

While coal-related equities rallied sharply on expectations that coal could increasingly substitute oil and gas amid the escalating Middle East tensions, the spot market for thermal coal remained largely sluggish, Mysteel Global observes. Coal stocks strengthened substantially in both the A-share market in Shanghai and on the Hong Kong bourse

Price Curve

Daily Prices

Thermal coal prices (Q5500) : China's major cities

Mar 12, 2026 18:08
Thermal coal prices (Q5500) : China's major cities

Mar 12, 2026 17:36
Domestic thermal coal portside prices: Guangzhou port

Mar 12, 2026 17:35
Thermal coal portside prices: Caofeidian port

Mar 12, 2026 17:34
Thermal coal portside prices: Tianjin port

Mar 12, 2026 17:34

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