DAILY: China's coking coal market sentiment remains strong

Sentiment in China's coking coal market remained strong on May 6, the first working day after the Labour Day holiday. Futures prices logged a firm gain, as positive performance in the downstream steel market continued to boost near-term expectations among market players.

On Wednesday, the most-traded coking coal contract for September delivery on the Dalian Commodity Exchange closed the daytime trading session at Yuan 1,313.5/tonne ($193/t), up 2.2% from the settlement price on April 30, the last trading day before the holiday. Market sources attributed the stronger futures price to sentiment support