WEEKLY: China's met coal market still in downswing

The Chinese metallurgical coal market continued a slow downward trajectory during December 9-13, failing to gain sufficient support from the upbeat sentiment fueled by Beijing's pledge to boost the domestic economy next year, Mysteel has found.

The national composite coking coal price under Mysteel's assessment moved down by another Yuan 11.3/tonne ($1.6/t) on week to Yuan 1,359.3/t including the 13% VAT by December 13. Though market sentiment experienced a brief uplift early last week as the meeting held by the Political Bureau of the Communist Party