WEEKLY: Chinese thermal coal prices lose steam as seasonal demand wanes
Chinese domestic thermal coal market closed last week (August 25-29) on a bearish note, as demand diminished seasonally despite lingering supply constraints.
On Friday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at RMB 695 per tonne (USD 97.5 per tonne) FOB northern ports with VAT, down RMB 7 per tonne from the previous week. Prices for 5,000 kcal/kg and 4,500 kcal/kg NAR grades also slipped RMB 18 per tonne and RMB 22 per tonne to RMB 615 per tonne and RMB 540 per tonne, respectively.
Last week, chilling weather dented household power demand in North China, leading to a notable decline in coal consumption at utilities. But temperatures in the southern and eastern regions remained high, which, coupled with weak hydropower generation, continued supporting coal burns at high levels, sources noted.
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