DAILY: China's thermal coal prices fall further as bearish sentiment builds

China's spot thermal coal market at northern ports edged lower on March 12, pressured by bleaker sentiment following the latest cut of buying prices by China's largest coal group, reflecting no signs of improvement in current supply-demand fundamentals.

On Thursday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 738/tonne ($107.2/t) FOB northern ports with VAT, down Yuan 3/t from a day ago, while 5,000 kcal/kg and 4,500 kcal/kg NAR materials fell Yuan 5/t each to Yuan 655/t and Yuan 563/t, respectively. The price retreats followed reductions of