DAILY: China's thermal coal edges higher, but trading remains sluggish

Thermal coal prices at China's northern ports edged higher on May 28, as bullish sentiment propped up offers. Expectations of tightening pithead supply, rising freight costs, and firm import prices continued to underpin market confidence, though downstream pushback against elevated prices kept trading activity subdued.

On Thursday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 851/tonne ($125.7/t) FOB northern ports with VAT, up by Yuan 3/t from a day ago. The 5,000 kcal/kg NAR grade also rose Yuan 3/t to Yuan 763/t, while 4,500 kcal/kg NAR jumped Yuan 5/t to Yuan 668/t. At northern