DAILY: China's thermal coal market shows signs of stabilizing

The ongoing downside of Chinese thermal coal prices at northern transshipment ports moderated on March 16, as some restocking needs emerged among non-power end-users. But the market was still under pressure as demand from power utilities remained sluggish and port inventories continued to build, Mysteel observed.

On Monday, Mysteel assessed 5,500 kcal/kg NAR coal at Yuan 735/tonne () FOB northern ports with VAT, down Yuan 1/t from last Friday, while 5,000 kcal/kg and 4,500 kcal/kg NAR grades fell by Yuan 2/t each to Yuan 651/t and Yuan 559/t, respectively. The daily price decline has narrowed