WEEKLY: China's thermal coal prices slip as demand weakness persists

China's spot thermal coal market edged lower during the week of June 2226 after weeks of consolidation. Mine-mouth prices reversed their uptrend and portside benchmarks tipped into decline, as relentless rains across South China kept hydropower surging, coastal utilities held well-stocked positions, and buyers stepped back from chasing expensive spot cargoes.

Supply-side constraints remained in place throughout the week, with safety inspections staying active across Shanxi, Inner Mongolia and Shaanxi, and some mines halting output for month-end maintenance. Mysteel's nationwide survey of 462 mines recorded an average capacity utilization rate of 87.6% during June 19–25, down 1.9 percentage points on