DAILY: China's pithead thermal coal pullback deepens; port sellers start to cash in

The pullback in China's pithead thermal coal market deepened on September 8, with price cuts extending across more mines in major producing regions. The softening has since reached northern ports, where some sellers moved to cash in, curbing the recent upward momentum.

Shenmu, Fugu and Hengshan in Yulin, Northwest China's Shaanxi province, were at the epicenter of the mine-mouth downturn. Several mines, including Dabianyao – a private Shenmu-based operation with an annual capacity of 1.5 million tonnes of high-calorific-value thermal coal (6,000–7,000 kcal/kg NAR) – cut prices by Yuan 40-90/tonne ($6-13.4/t),