DAILY: China's coking coal prices trend lower, yet expectations grow

China's coking coal market extended its downtrend on April 9, with more miners cutting prices. Yet some participants stayed optimistic about the near term, expecting coke makers' price hike efforts to lend some support to the coal market.

On Thursday, Mysteel assessed China's national composite coking coal price down another Yuan 5.6/tonne ($0.8/t) on day to Yuan 1,325.3/t including the 13% VAT, dropping for the fifth straight session and widening from the Yuan 3.1/t dip on Wednesday. The accelerating decline followed concentrated price cuts among coal miners in