WEEKLY: China's coking coal price rises accelerate for a 3rd week

The climb in coking coal prices in China extended for a third consecutive week during March 20-26 though with the pace quickening, the results of Mysteel's latest survey showed. Industry watchers attributed to bullish market expectations to leading metallurgical coke producers demanding higher prices from their steelmaker customers.

On March 26, Mysteel assessed China's national composite coking coal price higher by a large Yuan 76.3/tonne ($11/t) on week at Yuan 1,350.6/t including the 13% VAT, with the jump being far larger than previous increases – notably by just Yuan 7.3/t during March 6-12 and then by Yuan