DAILY: Steady supply drives thermal coal prices lower in China

China's domestic thermal coal prices continued to trend lower on March 13, pressured by weak fundamentals during the seasonal lull for coal consumption. Notably, strong, steady supply has played a key role, as reflected in rising coal inventories at northern ports.

On Friday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 736/tonne ($106.7/t) FOB northern ports with VAT, down Yuan 2/t from a day earlier. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades also fell Yuan 2/t each to Yuan 653/t and Yuan 561/t, respectively. Coal stockpiles at northern transfer