DAILY: China's thermal coal rally moderates as demand softens

Spot thermal coal price rallies at China's northern transfer ports narrowed on March 27, as improving import arbitrage pushed coastal buyers to turn back to imported coal. The weakened cost support alongside softening pithead prices also curbed the portside rally.

On March 27, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 761/tonne ($110/t) FOB northern ports with VAT, up Yuan 2/t on day. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades also increased Yuan 2/t each to Yuan 681/t and Yuan 593/t, respectively. However, the gain marked the