DAILY: China's coking coal sentiment cools, futures slump

China's coking coal market stayed subdued on March 5, mainly pressured by the weak performance of coking coal futures and growing concerns that faltering steel prices could further dampen the appetite for feed materials among downstream mills.

On Wednesday, Mysteel's assessment of the national composite coking coal price stood at Yuan 1,092.1/tonne ($150/t) including the 13% VAT, edging down by Yuan 2.1/t from Tuesday. Market sentiment grew more cautious following an official report during the Two Sessions meetings, which reaffirmed China's commitment to crude steel output controls