WEEKLY: China's thermal coal holds firm post-holiday despite softer demand

China's thermal coal market emerged from the National Day holiday on a firmer note, even as actual demand softened. During the holiday-shortened trading period of October 8-10, spot prices edged higher on cost support and expectations that railway maintenance would tighten supply at northern transfer ports, while a cold front and holiday shutdowns weighed on power-plant consumption.

As of October 9, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 990/tonne ($148/t) FOB northern ports with VAT, up Yuan 7/t from the pre-holiday level. The 5,000 kcal/kg and 4,500 kcal/kg NAR grades also climbed to Yuan 895/t and Yuan 807/t, respectively, up Yuan 6/t