China's portside thermal coal prices soar despite sluggish trades

China's portside thermal coal market extended its rally on August 31, as traders raised offers to keep pace with rising mine-mouth costs. However, market sources noted that buying interest was sporadic, leaving the market largely nominal in terms of physical transactions.

On Monday, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 893/t ($131.9/t) FOB with VAT, up Yuan 10/t from last Friday. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades each rose Yuan 10/t, to Yuan 803/t and Yuan 719/t respectively. At eastern ports