WEEKLY: China's thermal coal market shifts to sideways consolidation

China's spot thermal coal market shifted from an accelerated rally to sideways consolidation over the week of June 1-5, with daily price gains narrowing sharply as the previous supply shortage was proven to be overestimated and buyers pulled back against high prices.

As of June 4, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 860/tonne ($127/t) FOB northern ports with VAT, up Yuan 9/t from the previous week. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades settled at Yuan 772/t and Yuan 675/t, up by Yuan 9/t and