DAILY: Bullish sentiment lifts China's spot thermal prices

Spot thermal coal prices extended their rally on May 26, with bullish sentiment stoked by intensified safety inspections across the coal sector following a fatal accident late last week. However, some mines have already resumed operations after completing safety self-inspections, suggesting any supply disruption could be short-lived.

On Tuesday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 844/tonne ($124.4/t) FOB northern ports with VAT, up Yuan 4/t on day following a Yuan 5/t gain on Monday. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades also rose by the same margin to Yuan 757/t and Yuan