WEEKLY: China's thermal coal decline deepens; imported prices stabilise

China's domestic thermal coal prices declined last week (September 1-5), extending the downward trend for the second consecutive week, as cooler weather dented power demand and coal consumption, industry sources said.

At northern transfer ports, coal trading remained at a standstill as utilities held back from spot purchases. Sources said most buyers focused on meeting long-term contract obligations, supplemented by occasional imports of seaborne thermal coal. With coal consumption falling on cooler weather, utilities saw little need to seek additional cargoes from the domestic market.
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