WEEKLY: Chinese met coal market fundamentals stay weak

The Chinese metallurgical coal market fundamentals stayed relatively weak last week, which kept coal prices in downward corrections for most of the week before signs of stabilizing emerged during the last two working days.

The national composite coking coal price under Mysteel's assessment moved down by another Yuan 13/tonne ($1.77/t) on week to Yuan 1,219.2/t including the 13% VAT by January 17. Last week, high stockpiles continued to undermine pricing power among coal miners, driving coking coal prices down further. Mysteel's survey on the