DAILY: China's portside thermal coal gains further ground

Spot thermal coal prices at China's northern ports rose for a fifth consecutive session on October 13, with sentiment buoyed by a major mining group's hike in third-party purchase prices. Supply-demand fundamentals remain supportive of the rally, as supply stays tight and pre-winter restocking gathers pace across northern inland regions.

On October 13, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 1,010/tonne ($150.9/t) FOB northern ports with VAT, up Yuan 7/t from a day ago. The 5,000 kcal/kg NAR grade gained Yuan 7/t to Yuan 913/t and the 4,500 kcal/kg NAR grade rose Yuan 5/t to