DAILY: China's thermal coal climbs higher as coastal power demand soars

Thermal coal prices at China's northern transfer ports rose for a fourth consecutive session on August 5, as coastal power demand surged amid persistent heatwaves. Meanwhile, faster inventory drawdowns at ports pointed to continued tightness in prompt supply, supporting further price gains into next week at least, sources said.

On Wednesday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 839/tonne ($123.7/t) FOB with VAT, up Yuan 5/t from Tuesday. The 5,000 kcal/kg NAR grade also rose Yuan 5/t to Yuan 749/t, while the 4,500 kcal/kg NAR grade gained Yuan 6/t to Yuan 660/t. At