DAILY: China's coking coal prices slip lower on rising mine stocks

China's coking coal prices extended the downside track on December 15, as domestic miners had to offer larger discounts to facilitate transactions amid mounting inventory pressures. Despite the latest surge seen in its futures, the spot coking coal market still lacks clear support from its supply-demand fundamentals, Mysteel Global notes.

The national composite coking coal price under Mysteel's assessment settled at Yuan 1,295.7/tonne ($183.9/t) including the 13% VAT on Monday, losing another Yuan 4.2/t from last Friday. The coking coal derivatives market witnessed marked gains on Monday, with the most-traded coking coal contract for next May delivery on the Dalian