DAILY: China's thermal coal prices extend gains on heating demand

China's thermal coal prices at northern transfer ports rose for a second consecutive session on November 9, supported by rising heating demand and expectations of continued winter restocking. However, the upside is likely to remain limited as buyers continued to favour long-term contracts and domestic mine output recovered, market sources said.

On Monday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at Yuan 1,021/tonne ($153/t) FOB northern ports, including 13% VAT, up Yuan 3/t from last Friday. The 5,000 kcal/kg NAR grade also gained Yuan 3/t to Yuan 918/t, while the 4,500 kcal/kg NAR grade edged up Yuan 1/t to Yuan