DAILY: China's thermal coal market remains fluctuation

The spot thermal coal market at northern China ports has experienced unprecedented fluctuations since the beginning of June the prices bounced back mildly after touching the upper limit of the reasonable price range for medium- and long-term coal contracts set by the state planner.

However, the price rebound in early June was soon followed by fallbacks due to a lack of firm market fundamentals as Chinese power utilities had maintained slow buying of spot coal given their relatively high stockpiles and preference for imported cargoes, Mysteel Global learned. On June 14, the offer prices