DAILY: China's thermal coal prices hold flat as typhoon weighs on demand

China's spot thermal coal prices at northern transfer ports held steady for a third straight session on July 24, as the standoff between firm cost support and tepid demand deepened. Buying interest is expected to wane further after Typhoon Noul made landfall in Guangdong over the weekend, with heavy rainfall likely to weigh on electricity demand across South China.

Mysteel assessed 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 825/tonne ($121.7/t) FOB with VAT, unchanged for a third straight day. The 5,000 kcal/kg NAR grade held at Yuan 735/t and the 4,500 kcal/kg NAR grade at Yuan 642/t, both unchanged from the previous session. At ports