DAILY: Low-rank grade leads gains in China's thermal coal market

Spot thermal coal prices at China's northern transshipment ports extended gains on March 20, with lower-calorific value (CV) cargoes leading the rally, supported by rising upstream costs and improved market sentiment.

On Friday, Mysteel assessed 5,500 kcal/kg NAR coal at Yuan 737/tonne ($107/t) FOB northern ports with VAT, up Yuan 4/t on day. Lower-CV grades posted stronger increases, with 5,000 kcal/kg and 4,500 kcal/kg NAR coal rising by Yuan 5/t and Yuan 6/t to Yuan 655/t and Yuan 567/t, respectively. The