DAILY: Sentiment and costs lift China's portside thermal coal prices

Spot thermal coal prices at China's northern transfer ports moved higher on April 9, supported by the improving sentiment and rising pithead prices. However, the upside may prove short-lived, as coal consumption at coastal power plants remains seasonally weak, market sources said.

On April 9, Mysteel assessed 5,500 kcal/kg NAR coal at Yuan 762/tonne ($111.5/t) FOB northern ports with VAT, up Yuan 2/t on day. Prices for 5,000 kcal/kg and 4,500 kcal/kg NAR coal also increased by Yuan 2/t to Yuan 678/t and Yuan 590/t, respectively. The gains were mainly driven by