DAILY: China's thermal coal edges higher as demand optimism builds

China's domestic thermal coal prices continued to nudge higher on April 17, amid growing expectations of pre-summer restocking moves in the near term. The market upside, however, was still capped by the weak spot demand among downstream users, sources said.

On Friday, Mysteel assessed 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal at Yuan 771/tonne ($113.1/t), Yuan 687/t, and Yuan 595/t, respectively, FOB northern ports with VAT, all up by Yuan 1/t from the previous session. Market sentiment remained relatively firm, with most sellers at northern ports unwilling