DAILY: China's thermal coal rally continues amid higher consumption

China's thermal coal rally entered a fifth consecutive session on July 17, fueled by expectations of potential buying amid increasing coal burn at power plants. However, price increases narrowed as portside inventories surged, raising selling pressures on traders in the near term.

Last Friday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 819/tonne ($120.9/t) FOB with VAT, up Yuan 4/t from Thursday. The 5,000 kcal/kg NAR grade also rose Yuan 4/t to Yuan 729/t, while the 4,500 kcal/kg NAR grade climbed Yuan 5/t to Yuan 638/t. At