DAILY: China's spot thermal coal offers drift lower

The prevailing offers for spot thermal coal moved lower at northern Chinese transfer ports on Thursday, as destocking pressures mounted for traders amid the long-time sluggishness in coal sales.

Traders mostly lowered their offers by another Yuan 10/tonne ($1.4/t) yesterday, as they were eager to reduce stockpiles that hit a new high at northern ports because high-CV cargoes are facing higher risks of spontaneous combustion with rising temperatures, Mysteel has learned. As of May 25, coal inventory at eight