DAILY: China's thermal coal holds steady as cost support offsets demand weakness

China's portside thermal coal market remained flat for a seventh consecutive session on June 16, as rising pithead costs and firm offers from most sellers were offset by weakening demand from coastal utilities amid the ongoing rainy season.

Sources said market sentiment is showing signs of fraying. Most traders kept offers firm, backed by rising pithead costs and summer restocking hopes, yet a growing number admitted southern rains had pushed back any significant demand revival, locking the market into a high-price stalemate. On Tuesday, Mysteel assessed 5,500 kcal/kg