MONTHLY: China's thermal coal market falls in June

China's thermal coal market traced a broadly downward trajectory in June. Prices rose in the early few days on tighter supply before the uptick turned into a plateau in mid-month and dissipated around month-end as weak demand, high port inventories and rising hydropower output took their toll.

According to Mysteel's assessment, the benchmark 5,500 kcal/kg NAR thermal coal at northern transfer ports extended the May rally into early days of June, rising from Yuan 856/tonne ($126/t) on June 1 to Yuan 861/t on June 9, FOB with VAT. Then the price moved sideways at this level