Seaborne thermal coal prices are expected to find firmer footing after China and India return to the market seeking fresh cargoes this week, sources said Monday. A China-based source said that with the National Day holidays drawing to a close Monday, industrial production will resume, while power plants might also start to re-stock for the upcoming winter season. “These are likely factors to boost demand in the coming weeks,” he said. Market activity was largely muted amid China’s absence Monday, however. “We are waiting for China to come back to provide market direction,” a trader said. “There’s still some supply tightness from Indonesia, so prices have been supported, while for Australian coal, we’ve not been hearing much demand,” he added.
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