DAILY: China's coking coal prices surge on stronger bullishness

The outlook for China's coking coal market strengthened further on March 23 as more metallurgical coke producers proposed hikes in their sales prices. Coal prices also extended their recent uptrends on the back of the prevailing bullish expectations.

On Monday, Mysteel assessed China's national composite coking coal price at Yuan 1,301.2/tonne ($188.7/t) including the 13% VAT, jumping Yuan 19.3/t from last Friday and logging upticks for 11 straight sessions. This marks the steepest daily gain since late July last year. A major stimulus to the firmer prices was