WEEKLY: China's thermal coal prices retreat from highs as supply recovers

China's thermal coal market pulled back in the week of October 26-30, ending a three-week rally that had lifted prices to a 3.5-year high. Supply recovery triggered cascading price cuts in producing regions, undermining the cost floor for portside cargoes and compelling sellers to lower offers to attract buyers.

As of October 30, Mysteel assessed the benchmark 5,500 kcal/kg NAR thermal coal at Yuan 1,015/tonne ($152.4/t) FOB northern ports with VAT, down Yuan 20/t on week. The 5,000 kcal/kg NAR grade also fell Yuan 20/t to Yuan 918/t, while the 4,500 kcal/kg NAR grade declined Yuan 22/t to