DAILY: Downstream weakness pressures China's coking coal market

Amid consistent pressure from sluggish downstream markets, the outlook for China's coking coal market continued to soften on March 4, with further price declines recorded in various coal grades.

On Wednesday, Mysteel's assessment of the national composite coking coal price dropped another Yuan 5.9/t ($0.9/t) on day to Yuan 1,240.8/t, accelerating from a daily loss of Yuan 4/t recorded on Tuesday and marking the sharpest during the downturn starting late January. Market sentiment soured further yesterday as domestic steelmakers