DAILY: China's portside thermal coal price hits 2.5-year high

China's portside thermal coal market extended its rally on September 2, with the benchmark price climbing to a two-and-a-half-year high, driven by severe supply shortages in major producing regions that show no signs of easing, sources said.

On Wednesday, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 913/t ($134.9/t) FOB with VAT, up Yuan 10/t from Tuesday and marking the highest since March 12, 2024. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades each rose Yuan 10/t, to Yuan 823/t