DAILY: China's thermal coal market soars as summer restocking continues

China's spot thermal coal price upticks accelerated after the Labour Day holiday (May 1-5), as power producers continued to secure supplies for the coming summer peak season, sources noted.

On May 6, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 815/tonne ($119.7/t) FOB northern transfer ports with VAT, up strikingly by Yuan 9/t from April 40, the last trading day ahead of the holiday. Similarly, 5,000 kcal/kg and 4,500 kcal/kg NAR grades also increased Yuan