WEEKLY: China's met coal market struggles to gain traction after holiday

The Chinese metallurgical coal market has yet to regain strong footing after the downturn seen over February 5-7, the first week following the Chinese New Year (CNY) holiday. Trading activity remained largely subdued, and prices continued to soften.

As of February 7, the national composite coking coal price under Mysteel's assessment stood at Yuan 1,192.3/tonne ($163.6/t) including the 13% VAT, down by Yuan 17.1/t from the pre-holiday level. After the holiday, the met coal market saw few transactions, as domestic coke and steel mills were cautious due to