DAILY: China's coking coal prices sag on poor liquidity

China's coking coal prices extended the downward trend on November 27, as buyers moved to the sidelines amid a gloomy market outlook. Participants expect further price corrections until new impetus emerges to break the current fundamental imbalance.

The national composite coking coal price under Mysteel's assessment decreased by another Yuan 5.4/tonne ($0.8/t) from the previous session to settle at Yuan 1,350.9/t including the 13% VAT on Thursday. Coking coal liquidity in the domestic auction market remained subdued yesterday, with the failure ratio standing high at 41.6% and