On January 28th, the CCTD index of thermal coal was 5,500CV, at 692 RMB/ton (+1); 5,000CV， 609 RMB/ton (+2); 4,500CV， 522 RMB/ton (+2).

The article shows that the CCTD index of thermal coal at 5,500CV, 5,000CV, and 4,500CV spot prices have increased by 1 RMB/ton, 2 RMB/ton, and 2 RMB/ton, respectively, indicating that the supply in the spot market is tightening or demand is increasing, which is favorable for the spot price of thermal coal. Although the increase is small, the overall upward trend is clear and may be driven by seasonal demand or reduced inventory.

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