DAILY: Indonesian thermal coal prices grind higher

Indonesian thermal coal prices extended their upward trend on May 7, buoyed by sustained Chinese buying as importers were building inventories ahead of the summer demand peak, market sources said.

On May 7, Mysteel assessed Indonesian 3,800 kcal/kg NAR thermal coal at 65.8/tonne FOB Kalimantan, up $0.3/t on day and $1.3/t on week. The price has marked its highest since mid-October 2023, suggesting strong upward momentum against a background of tightening fundamentals. Indonesian miners raised offers across the board from