DAILY: China's coking coal uptrend widens, yet corrections continue

The Chinese coking coal market showed more signs of improvement on December 18, though downward price corrections continued. This indicates that the market still sits at a crossroads at present, and a broader rebound will hinge on concentrated restocking moves from downstream users, which have yet to materialize, Mysteel Global notes.

The national composite coking coal price under Mysteel's assessment settled at Yuan 1,290.6/tonne ($183.3/t) including the 13% VAT on Thursday, down by another Yuan 1.7/t on day. Market prices continued to present a mixed pattern yesterday, with new improvements observed such as price rebounds of more coal grades and