Domestic thermal coal prices in China softened by RMB 20-40/t ($3-6/t) as compared to June-end, in major production hubs as coal production are heard to have increased post the centenary celebrations of the Chines Communist Party. Amid rising demand, state-run coal firms have been raising supply and shipments, while a few opencast pits are set to resume operations in Inner Mongolia from Aug’21 and Shanxi and Jiangxi provinces are expanding coal reserves. Offers from downstream buyers, however, remained lower on expectation of a further correction.
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