DAILY: Sentiment improves in China's coking coal market

China's coking coal market showed a clear improvement in sentiment on December 4, alongside more favorable signs for market dynamics, which helped ease the previous slump in coal trading and slowed price retreats.

The national composite coking coal price under Mysteel's assessment settled at Yuan 1,323.2/tonne ($187/t) including the 13% VAT on Thursday, down by a smaller Yuan 4.4/t on day than Wednesday's Yuan 9/t drop. The market captured more positive signs yesterday, including recovering steel fundamentals and further reduction in coal supply.