China seen focusing on ensuring thermal coal supply sufficiency again

China's authorities are increasingly shifting their focus toward ensuring sufficient domestic thermal coal supply ahead of the summer peak demand season, after robust utility restocking since late April triggered a sharp price rally.

According to Mysteel's assessment, prices for benchmark 5,500 kcal/kg NAR thermal coal traded at northern ports began rising at a much faster pace from April 23, with daily gains accelerating to Yuan 4-9/tonne ($0.6-1.3/t), compared with only Yuan 1-2/t earlier in the month. The rally was mainly driven by coastal