DAILY: China's thermal coal prices under pressure amid high stocks

China's spot thermal coal prices are facing increasing downward pressure after a brief rebound, as high stockpiles at northern transfer ports and seasonally weak demand weigh on the market, sources said.

On March 12, Mysteel assessed 5,500 kcal/kg, 5,000 kcal/kg, and 4,500 kcal/kg NAR thermal coal prices at Yuan 695/tonne ($96/t), Yuan 600/t, and Yuan 530/t, respectively, FOB northern ports with VAT, all unchanged from the previous day. The market has remained rangebound since March 7, when prices for all three