On Tuesday, Mysteel's assessments for the prices of 5,500 kcal per kg, 5,000 kcal per kg and 4,500 kcal per kg NAR coal strengthened to RMB 720 per tonne (USD100.9per tonne), RMB 630per tonne and RMB 550per tonne, respectively, FOB northern ports basis with VAT, all higher by RMB 5per tonne from the day prior.
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Some Chinese power utilities have kick-started their coal hoarding activities for this winter, as temperature drops in northern China drive up household heating demand, sources noted. A strong cold snap is forecast to sweep most regions of the country in the following five days, according to the National Meteorology Administration.
Inquiries for thermal coal increased notably in the spot market in recent days, which directly elevated trading prices amid growing market competition for coal cargoes. Sources expected that coal demand may continue to rise in the lead-up to the winter heating season for northern China later this month.
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