DAILY: China's thermal coal prices stabilize amid weak demand

China's thermal coal prices at northern transfer ports remained broadly stable on April 21, as subdued demand capped further upside. The market consensus points to a near-term rangebound trajectory, with no clear trigger on the horizon to drive a breakout.

On Tuesday, Mysteel assessed 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal at Yuan 772/tonne ($113.1/t), Yuan 688/t, and Yuan 596/t, respectively, FOB northern ports with VAT, all unchanged from the previous day. Trading activity remained thin yesterday, with only sporadic deals reported. A few transactions were heard