WEEKLY: Dull demand dims China's coking coal market outlook

China's spot coking coal market continued to retreat during the week of August 18-22, a further response to the futures market that had already cooled down from its previous surges. The national composite coking coal price under Mysteel's assessment declined by Yuan 9/tonne ($1.3/t) from a week earlier to sit at Yuan 1,204/t including the 13% VAT by August 22.

Coking coal futures prices in Dalian have come under pressure since August 20, as expectations for support from domestic coal production contraction amid overproduction inspections in major coal-producing hubs gradually faded, compounded by the Dalian Commodity Exchange's new limits on the commodity's position holdings. Adding to the bearishness were the