DAILY: China's coking coal market strength falters

The upside strength for China's coking coal market faltered on November 7, as market participants grew more cautious, though they still dismissed the possibility of downward price corrections in the near term.

Mysteel's assessment of the national composite coking coal price settled at Yuan 1,396.9/tonne ($196.1/t) including 13% VAT last Friday, with the daily increase easing to Yuan 4.3/t from the prior day's Yuan 7.9/t rise. Downstream coke firms and steel mills showed less appetite for taking additional coking coal cargoes, mainly