DAILY: China's pithead thermal coal prices soften further

China's pithead thermal coal prices edged lower on October 21, but the decline remained modest, as expectations that winter heating would kick off across North China in November, together with tighter supply ahead of month-end, helped cushion some of the bearish sentiment.

Yesterday, out of 109 thermal coal mines surveyed by Mysteel across key producing regions, 18 cut prices by an average of Yuan 20/tonne ($3/t), while four others lifted prices by Yuan 13/t. The remaining 87 mines either stayed suspended or maintained prices unchanged. A series of recent government meetings highlighting