DAILY: China's thermal coal sentiment softens as buyers stay sidelined

Sentiment in China's spot thermal coal market softened on September 21, with offers broadly steady but easing for certain common-quality materials as buyers stepped back. Views on the near-term direction remain split; nevertheless, many participants still saw limited downside room, given slow mine restarts and upcoming rail maintenance that will continue to constrain supply.

On Monday, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 983/tonne ($146.8/t) FOB northern ports with VAT, unchanged for the fourth consecutive session. The 5,000 kcal/kg and 4,500 kcal/kg grades also held flat on day at Yuan 889/t and Yuan 803/t. At eastern ports along the