DAILY: China's coking coal market softens further, yet support remains

Although China's coking coal market remained in a broad downtrend on April 8, market participants observed factors that cushioned the price drops, as activity picked up in both spot and futures trading.

On Wednesday, Mysteel assessed China's national composite coking coal price at Yuan 1,330.9/tonne ($194.7/t) including the 13% VAT, down another Yuan 3.1/t from the previous session. Facing waning sentiment and slower trade recently, more domestic miners have come under mounting sales pressure, driving them to cut coal prices, Mysteel learned