DAILY: China's coking coal prices trend lower, concerns grow

China's coking coal market continued to falter on March 2 amid wide price cuts in the country's major coal regions. With more miners back to operations today, some market players worry that sufficient supply may further weigh on coal prices in the near term.

On Monday, Mysteel assessed the national composite coking coal price at Yuan 1,250.7/tonne ($181.7/t) including the 13% VAT, lower by another Yuan 3.6/t from last Saturday and marking the sixth straight session of decline. Several major coal varieties witnessed price corrections amid the accumulating selling pressures. For example, a major