DAILY: China's coking coal trades lull as sentiment softens

China's spot coking coal trades experienced an abrupt decline on November 13, as market confidence flagged amid more signs of weakening steel fundamentals and a temporary mitigation of coal supply tightness, Mysteel learned.

On Thursday, the national composite coking coal price gained a smaller Yuan 1.7/tonne ($0.2/t) from the prior day to Yuan 1,407.1/t including 13% VAT, according to Mysteel's assessment. Coking coal auction activity yesterday witnessed a clear plummet, with the failure ratio among the total offered cargoes soaring to 66.3% from