DAILY: China's coking coal market reacts tepidly to positive signals

Sentiment in China's coking coal market remained rather tepid on April 24, despite signs for potential upticks in domestic metallurgical coke market following producers' new price hike attempts. Some market participants retained their cautious near-term outlook, waiting on the sidelines for further observation, market sources noted.

Last Friday, Mysteel assessed China's national composite coking coal price at Yuan 1,344.1/tonne ($196.8/t) including the 13% VAT, higher by a moderate Yuan 1.2/t from the previous session. Few meaningful upward price movements were observed in the market last Friday. According to Mysteel's survey in North China's Shanxi province, only