DAILY: China's thermal coal prices firm as pre-holiday buys strengthen

China's thermal coal market turned noticeably firmer on April 24, with inquiry activity picking up ahead of the upcoming Labour Day holiday (May 1-5). Betting on further price gains after the holiday, many traders intended to continue hoarding instead of selling immediately.

On Friday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 778/tonne ($113.9/t) FOB northern ports with VAT, up Yuan 4/t from Thursday, while the 5,000 kcal/kg NAR grade rose Yuan 3/t to Yuan 693/t, and the 4,500 kcal/kg NAR also climbed Yuan 4/t to Yuan 601/t. The rallies facilitated