DAILY: China's thermal coal prices hold flat, upward pressure mounting

Spot thermal coal prices at China's northern ports remained flat on July 28, but bullish sentiment gained ground as higher coastal utility consumption drew stocks down to critical levels, spurring utilities to seek extra volumes in the spot market.

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 fifth straight day. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades both stayed unchanged at Yuan 735/t and Yuan 642/t, respectively. Assessments of 5,500 kcal/kg and 5,000 kcal/kg NAR