DAILY: China's coking coal market shows pre-holiday tranquility

China's spot coking coal market continued to show tranquility prior to the nine-day Chinese New Year (CNY) holiday starting February 15, with both offering and buying activities gradually weakening. The lower market participation will likely keep coking coal prices stable in the following week, Mysteel predicts.

On February 5, Mysteel's assessment of the national composite coking coal price settled at Yuan 1,280.8/tonne ($184.6/t) including the 13% VAT, down by a smaller Yuan 0.4/t from the previous session. Most coal traders and washeries reported sparse new orders for feed coal recently, with end-users mainly shipping cargoes covered