DAILY: China's benchmark thermal coal price surges to near Yuan 800/t

China's portside thermal coal prices surged further on April 29, driven by accelerated utility buying ahead of the Labour Day holiday amid expectations of stronger summer demand. Robust appetite prompted traders to keep raising offers, though some market participants cautioned that the front-loaded purchases could drain post-holiday demand.

On Wednesday, the benchmark 5,500 kcal/kg NAR thermal coal traded at northern ports jumped by Yuan 8/t from a day earlier to Yuan 798/tonne ($116.7/t), FOB with VAT, marking the largest single-day increase so far this year, as Mysteel assessed. The price has also hit the highest level since