DAILY: China's domestic thermal coal stabilizes after short rally

China's domestic thermal coal prices at key northern ports stabilized on December 31, following a modest rebound the previous day. The pause of a brief rally reflects the lingered uncertainty among participants over the downstream demand in the near term, market sources said.

On Tuesday, Mysteel assessed the trading prices of 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal at Yuan 770/tonne ($105.5/t), Yuan 670/t and Yuan 570/t, respectively, on a FOB northern ports basis with VAT, all unchanged from a day ago. This came after a Yuan 5/t rise