DAILY: China's coking coal prices dive lower, outlook dims

China's spot coking coal prices headed lower on December 30, as suppliers had to offer discounts to offload coal inventories in hand. The market outlook remains dim given tepid buying interest from downstream coal users and expectations of only a brief period of tight coal supply, Mysteel has learned.

Mysteel's assessment of the national composite coking coal price shed a larger Yuan 5.6/tonne ($0.8/t) from the last session to sit at Yuan 1,271.6/t including the 13% VAT on Tuesday. In North China's Shanxi province, 11 coking coal deals were settled lower by Yuan 10-80/t on Tuesday, increasing from Monday's