DAILY: China's portside thermal coal extends rally, yet trades stay scarce

China's portside thermal coal prices extended gains on September 1, as traders hiked offers to cover mounting replacement costs, though buying interest remained tepid as buyers resisted the elevated price levels, market sources said.

On Tuesday, Mysteel's benchmark 5,500 kcal/kg NAR thermal coal at northern ports (FOB with VAT) rose Yuan 10/tonne ($1.5/t) to Yuan 903/t, breaching the Yuan 900/t level for the first time since March 14, 2024. The daily gain, matching Monday's increase, was the year's largest. The 5,000 kcal/kg and