WEEKLY: China's thermal coal rises on tighter supply and stronger demand

China's thermal coal market firmed up over April 2024, supported by tightening supply in producing regions and stronger demand as utilities brought forward pre-summer restocking. Bullish sentiment gathered further momentum amid active procurement ahead of the Labour Day holiday (May 1-5).

At northern ports, prices extended their upward trajectory and gained stronger momentum late last week. As of April 24, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 778/tonne FOB with VAT, up Yuan 7/t on week. Despite the seasonal off-peak period, higher-than-normal temperatures in South China boosted