DAILY: China's thermal coal market at crossroads as bulls and bears collide

China's portside thermal coal market held steady for a sixth consecutive session on June 15, as tightening supply-side support was fully offset by softening demand amid the advancing rainy season and slumping global energy prices, leaving the market caught between competing bullish and bearish forces.

Trader sentiment remained sharply divided. Those holding quality cargoes cited supply constraints and the upcoming summer peak as reasons to keep offers firm. Others, faced with high port inventories and sluggish downstream buying, were more inclined to reduce exposure, offering modest discounts. The standoff kept trading volumes low. On Monday,