DAILY: China's portside thermal coal stays rangebound amid trading deadlock

China's portside thermal coal prices remained rangebound on August 21, with the market caught in a trading deadlock. Firm pithead costs and persistent supply tightness discouraged sellers from lowering offers, while subdued demand and ample utility stocks deterred buyers from bidding higher. With both sides staying on the sidelines, prices were left with little room to move in either direction.

Last Friday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 860/tonne ($126.9/t) FOB with VAT, unchanged from Thursday. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades also held flat at Yuan 770/t and Yuan 685/t, respectively. At eastern Yangtze River ports, 5,500 kcal/kg and 5,000