WEEKLY: China's thermal coal prices stable, downward pressures persist

China's thermal coal prices at northern ports held largely steady over November 4-8, as supply remained robust and demand continued to languish without signs of any clear rise in consumption, according to market insiders. The weak fundamentals are causing concern among participants fearing a downward tilt in the market could be looming.

As of Friday, 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 week at Yuan 855/tonne ($119/t), Yuan 755/t and Yuan 665/t, respectively, on a FOB northern ports basis with VAT. The assessments have been stable for three weeks. A