DAILY: Caution thickens again in China's spot coking coal market

Trading in China's spot coking coal market tightened on March 10, as participants turned wary after a bout of extreme futures volatility. However, coal prices continued to inch upward, riding the tailwinds of the previous session's optimism.

Impacted by a 11.3% plunge in the benchmark Brent crude oil futures yesterday, China's ferrous futures market also recorded notable drops. On Tuesday, the most-traded coking coal contract for May delivery on the Dalian Commodity Exchange slumped 3.9% to close the daytime trading session at Yuan 1,121.5/tonne ($163.1/t), after