DAILY: China's coking coal prices continue downtrend amid trading stalemate

China's coking coal prices remained on the downward trajectory on November 26, as the prevailing wait-and-see sentiment among buyers still kept coal trading stuck in a stalemate. Near-term liquidity of the feed material will likely see further constraints as the downstream market outlook turns grim.

The national composite coking coal price under Mysteel's assessment decreased by another Yuan 8.6/tonne ($1.2/t) from the previous session to settle at Yuan 1,356.3/t including the 13% VAT on Wednesday, logging declines for nine consecutive sessions. In the coking coal auction market, the failure ratio climbed back to 58.1% on