MONTHLY: China's thermal coal prices may dip lower in Dec

China's thermal coal prices may extend the downward trend into December, mainly due to an overall loose supply of the fossil fuel in the spot market, with both coal mines' production and downstream demand likely to decrease slightly, according to Mysteel's latest monthly report.

Spot prices for the benchmark 5,500 kcal/kg NAR thermal coal had declined by Yuan 30/t throughout November, sitting at Yuan 825/t FOB northern transfer ports with 13% VAT included, as of November 29, according to Mysteel's assessment. Regarding market fundamentals, last month saw a significant rise in thermal coal inventories