DAILY: China's coking coal prices head lower on thin trades

China's spot coking coal prices headed lower on December 12 in response to the persistent thin liquidity of the feed coal, as the prevalent pessimistic mood continued discouraging buyers from taking positions. Sources expected coal prices to experience further downward corrections in the short term.

The national composite coking coal price under Mysteel's assessment settled at Yuan 1,299.9/tonne ($184.2/t) including the 13% VAT on the final working day of last week, shedding Yuan 2.7/t from the day prior. Prices of some coking coal varieties in Shanxi province, the country's largest coal-producing hub, kept moving lower