DAILY: Stabilization signs emerge for China's pithead thermal coal prices

After falling for more than a week, China's pithead thermal coal market showed tentative signs of stabilizing on July 1, with price declines beginning to ease. However, the portside market was still weighed by sluggish trades and high stockpiles.

The main driver was the reduced supply in the market, as many miners chose to conduct maintenance stoppages as they had completed their monthly production targets. The supply contraction has partly offset weakness in demand, lowering urgency for miners to offer larger discounts for sale, Mysteel learned. Price retreats have