DAILY: Chinese traders firm thermal coal prices despite weak demand

Spot thermal coal prices at China's northern ports held steady on October 31 despite the softening downstream demand, as portside traders continued to firm up their offers, believing that the ongoing rises in mine-mouth prices would lend some support to port prices.

On Thursday, Mysteel assessed the trading prices of 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal all unchanged on day at Yuan 855/tonne ($120/t), Yuan 755/t and Yuan 665/t, respectively, on a FOB northern ports basis with VAT. Traders at northern ports were strongly resisting slashing their prices