DAILY: Divergence deepens in China's port and pithead thermal coal markets

China's thermal coal prices continued to diverge on August 17, with coal prices at major northern ports largely holding steady, while prices in the pithead market edged higher. The portside prices are anticipated to come under mounting pressures going forward if port supplies continue to swell.

Mysteel's assessment for the benchmark 5,500 kcal/kg NAR coal extended the flatness for the third straight session, settling at Yuan 861/tonne ($127.7/t) on Monday, while the 5,000 kcal/kg and 4,500 kcal/kg NAR grades also stayed unchanged at Yuan 771/t and Yuan 685/t, respectively, all on FOB basis at northern