DAILY: China's spot coking coal edges up as firm futures boost trades

The strong performance of China's coking coal futures lifted sentiment in the spot market on March 9, with trading activity warming up and coal prices recovering from previous lows. The near-term market trends, however, may require further observation, with some players still cautious about a sentiment-driven rally.

On Monday, Mysteel assessed China's national composite coking coal price at Yuan 1,236.3/tonne ($178.9/t) including the 13% VAT, up Yuan 0.6/t from the previous session and marking the first uptick since January 21. The moderate rise came with a robust performance in the futures market yesterday. Following recent global price