DAILY: Sentiment sours in China's thermal coal market

China's spot thermal coal market stabilized on September 24, snapping the uptick for two consecutive weeks, as participants became bearish about the market trend post the National Day holiday over October 1-7.

On Tuesday, Mysteel's assessments for 5,500 kcal/kg, 5,000 kcal/kg and 4,500 kcal/kg NAR thermal coal grades stood flat on day at Yuan 870/tonne ($124/t), Yuan 775/t, and Yuan 685/t, respectively, all on FOB northern ports basis with VAT. Anticipating a post-holiday market downtrend, Chinese end users slowed the buying pace