DAILY: China's thermal coal rebounds earlier than expected

China's thermal coal market rebounded modestly on July 13, marking an earlier-than-expected recovery since prices steadied for just one session from a three-week slide. Firming sentiment encouraged traders to hold offers steady, though end-users remained largely absent from the spot market.

On Monday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 804/tonne ($118.6/t) FOB with VAT, up Yuan 2/t from last Friday – following just one flat session that snapped a consecutive downtrend since June 22. The 5,000 kcal/kg NAR grade rose Yuan 3/t to Yuan