WEEKLY: Supply issues, summer restocking lift China's steam coal market

China's spot market for thermal coal strengthened notably during the week of May 25-29, as tightening domestic supply and expectations for stronger summer demand pushed prices higher. Nonetheless, buying interest remained relatively selective, Mysteel Global notes.

On May 29, Mysteel assessed the price of benchmark 5,500 kcal/kg NAR thermal coal at Yuan 854/tonne ($126.2/t) FOB northern ports with VAT, up from Yuan 835/t on May 22. The rally was mainly fueled by supply availability concerns after the fatal coal mine accident in Shanxi province on May