WEEKLY: China's coking coal stocks at mines hit 3-mth high

Chinese mines saw their coking coal stockpiles notch a three-month high by December 10 following weeks of increases due to sluggish trading activity for the steelmaking material. This is signaling higher risks for a fundamental imbalance and a further drag on domestic coking coal prices in the short term, Mysteel learned.

Total washed coal inventories at the 523 Chinese coking coal mines that Mysteel surveys nationwide climbed for the fourth straight week to reach 2.55 million tonnes as of December 10, marking the highest level since mid-September. The overall trading stalemate continued to drive coking coal stocks at mines higher, although