DAILY: China's thermal coal market cools down after brief rise

China's spot thermal coal market at northern transfer ports showed signs of cooling down after a brief rebound that lasted less than a week, echoing participants' caution that the market still lacked fundamental strength due to utilities' high stocks.

Market sources noted the rise in spot coal prices started slowing on June 8, and trading sentiment has also weakened, with only some deals done at prices lower than sellers' expected levels. A mild drop of Yuan 5/tonne ($0.7/t) was observed in offers of spot thermal coal on Thursday, reversing