WEEKLY: China wash plants' met coal stocks drop for a third week

During June 25-July 1, the stocks of processed coking coal held by the 110 independent and affiliated coking coal wash plants Mysteel regularly tracks across the country fell for the third consecutive week to reach 2.15 million tonnes, down 7.3% from the week-ago level, the latest survey results show.

As market sentiment was lifted recently, affiliated wash plants sampled by Mysteel enjoyed better sales during the survey week, which mainly contributed to the reduction in the washeries' inventories, according to a survey respondent. Indeed, trading activity in China's daily auctions for the commodity has improved, with the failure rate