DAILY: Coking coal trades cooler in Chinese market

Coking coal transactions in the Chinese market cooled further on November 27, as buyers preferred to shelf their purchase plans as market sentiment turned more bearish, Mysteel has learned.

As of November 27, the national composite coking coal price under Mysteel's assessment lost another Yuan 4.1/tonne ($0.57/t) on day to Yuan 1,391.4/t and including the 13% VAT. A gloomy market outlook has strengthened that domestic steel mills' demand for the feed coal could shrink again in the near term