WEEKLY: Inventory pressure at Chinese coking coal mines eases on better sales

The severe inventory accumulation at Chinese coking coal mines continued to ease during the week of July 7-11, mainly due to the increased liquidity of the steelmaking material along with a clear lift in market sentiment.

The total coal stockpiles, including raw and processed coal, at the 523 coking coal mines Mysteel surveys across the country declined for three consecutive weeks, lower by another 5.1% on week to reach 10.2 million tonnes as of July 9. The three-week downtrend has seen cumulative stock drawdowns of 1.8