DAILY: China's coking coal heads lower on sluggish demand

China's coking coal prices continued drifting lower on November 28, as the lingering weakness in downstream markets still kept coal trading in check. Despite hopes for future winter restocking, the overall market has been little supported by fundamentals so far, Mysteel learned.

The national composite coking coal price under Mysteel's assessment slipped by another Yuan 3.9/tonne ($0.6/t) from the previous session to sit at Yuan 1,347/t including the 13% VAT last Friday. In North China's Shanxi province, the country's largest coal-producing hub, eight deals of different coking coal varieties were settled lower