DAILY: China's thermal coal market remains rangebound

China's portside thermal coal market edged higher on April 16, underpinned by the firm cost and the tightening availability of low-sulfur cargoes. But weak downstream demand continued to cap trading activities as well as the upside of coal prices.

On Thursday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 770/tonne ($112.8/t) FOB northern ports with VAT, up Yuan 1/t on day. The 5,000 kcal/kg NAR grade also rose Yuan 1/t to Yuan 686/t, while the 4,500 kcal/kg NAR grade stabilized at Yuan 594/t. Transactions for some low-sulfur 5,000