DAILY: China's coking coal sentiment diverges in spot and futures markets

Sentiment in the Chinese spot and futures markets of coking coal diverged on March 6, reflecting parallel impacts of weak market fundamentals and an improved outlook amid global energy supply concerns, Mysteel Global learned.

Last Friday, Mysteel assessed China's national composite coking coal price at Yuan 1,235.7/tonne ($179.2/t) including the 13% VAT, down Yuan 1.8/t from the previous session. Market analysts pointed to weak demand as the primary factor weighing on coking coal prices in the spot market. Following production cuts starting March 4 among