DAILY: China's portside thermal coal rally grinds to a halt; downward risk looms

China's portside thermal coal market lost steam on September 10 as sellers moved to lock in profits, boosting offers in the market. With buying remaining weak, cargoes were hard to sell at ports. Some traders cut prices to shore up liquidity, pushing concluded levels lower, sources said.

On Thursday, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 985/tonne ($146.8/t) FOB with VAT, up Yuan 1/t from the last session. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades held unchanged at Yuan 894/t and Yuan 810/t, respectively. At eastern ports along