DAILY: China's coking coal prices move higher, outlook bright

China's spot coking coal prices gained further momentum on January 15, as traders and some downstream users were actively sourcing fresh coal cargoes following a noticeable sentiment lift. Sources predict the market strength will likely continue into next week as coal transactions may remain active.

Mysteel's assessment of the national composite coking coal price gained another Yuan 8/tonne ($1.2/t) from the last session to reach Yuan 1,285.3/t including the 13% VAT on Thursday. Mysteel's survey results indicated that in North China's Shanxi province, 12 coking coal deals were heard settled at higher prices yesterday, up