DAILY: China's imported thermal coal prices edge up

China's imported thermal coal prices edged higher on November 4, as utilities issued a wave of tenders for December delivery while spot availability from overseas suppliers remained limited. However, utilities remained reluctant to accept offers above their target prices, and some tenders failed to result in awards, capping the market's upward momentum.

Indonesian 3,800 kcal/kg NAR Panamax cargoes were mainly offered at $81-82/tonne FOB Kalimantan on November 4, up from $80-81/t a day earlier, while Australian 5,500 kcal/kg NAR coal was quoted at $114-115/t FOB Newcastle, broadly unchanged, market sources said. Freight rates also kept delivered costs high, at $10.67/t for Panamax