DAILY: China's portside thermal coal stabilizes as thin buying limits rebound

China's thermal coal prices at northern transfer ports held steady on November 3 for a second consecutive session, as traders resisted further cuts amid rising replacement costs and bargain hunting. However, weak spot demand and ample utility inventories continued to cap the upside, leaving prices likely to trade in a narrow range until winter restocking gathers pace.

On November 3, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 1,015/tonne ($152.0/t) FOB northern ports, including VAT, unchanged for a second trading day after falling Yuan 20/t between October 26 and 29. The 5,000 and 4,500 kcal/kg NAR grades also held steady at Yuan 913/t and Yuan