Chinese traders lower bids to utility tenders for seaborne thermal coal

China's seaborne import market saw some easing in bidding prices to utility tenders for Indonesian 3,800 Kcal/kg NAR coal, with the lowest falling further to 495 yuan/t CFR China with VAT, or netback about $53.2/t FOB E Kalimantan. Chinese utilities continued to float tenders but only a few have been awarded. Offer prices of the same-CV coal from Indonesian sellers were resilient at $54.5-55/t FOB on a Panamax basis, while Chinese traders' counteroffers were heard at $53.5-54/t.

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