DAILY: Supply squeeze from heavy rains lifts China's thermal coal prices

Torrential rain sweeping China's key coal-producing regions since Tuesday has forced temporary mine suspensions and dented railway deliveries, pushing pithead prices higher across Inner Mongolia, Shaanxi and Shanxi, market sources said.

The disruption, concentrated in Inner Mongolia, added fresh momentum to an already firm market and also lifted prices at northern ports, Mysteel learned. On Wednesday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 869/tonne ($128.3/t) FOB with VAT, up Yuan 5/t from Tuesday. The 5,000 kcal/kg