DAILY: China's portside thermal coal extends rally on firming supports

China's portside thermal coal prices rose for a third straight session on July 15, underpinned by rising pithead prices that lifted offer levels, while persistent heat kept coastal utility coal burn elevated and further fueled bullish sentiment.

On Wednesday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 810/tonne ($119.7/t) FOB with VAT, up Yuan 4/t from Tuesday. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades rose Yuan 5/t each to Yuan 720/t and Yuan 627/t, respectively. At ports along the Yangtze River