FLASH: China's tenders for imported thermal coal largely fail

The majority of tenders issued by Chinese coastal power producers for imported thermal coal on September 15 were unsuccessful as the traders' offers to the utilities firms were too high, Mysteel Global has learned.

The Chinese traders had been active in procuring foreign cargoes amid the bullish outlook, as the warm summer temperatures were lingering longer, with their bidding prices for the domestic utilities' tenders firming to Yuan 530/t CFR China and including VAT, netting back to $64/t CFR, Mysteel learned from sources. On