DAILY: Rises in China's coking coal prices slow, support remains

Uptrend in China's coking coal prices had slowed notably on March 27 amid growing resistance from end-users. However, most market participants expect coal prices to remain resilient in the near term, citing persistent support in the market.

Last Friday, Mysteel assessed China's national composite coking coal price at Yuan 1,352.1/tonne ($195.4/t) including the 13% VAT. Although the price was still Yuan 1.5/t higher than the previous day, the growth narrowed further from Thursday's Yuan 5.9/t rise and contrasted with double-digit gains recorded over Monday-Wednesday. "With coal prices