Last week, according to Mysteel's assessment, the benchmark 5,500 kcal per kg NAR thermal coal dipped from RMB 768 per tonne (USD 107.9 per tonne) on Monday to RMB 766 per tonne on Tuesday. After staying at this level in the following two days, it rebounded to RMB 769 per tonne on Friday.
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At northern ports, bullish sentiment largely persisted through the week despite thin liquidity, as the market converged on a broadly bullish outlook for demand during the seasonal peak period. Starting from November 1, most places in North China enter the heating season that will last until mid-March next year.
Meanwhile, as some utilities missed opportunities to restock in October, they are expected to make additional purchases this month, according to sources.
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