WEEKLY: China's coking coal prices continue rising, yet risks loom

China's coking coal prices continued rising during the week to May 14, driven by smooth trading and recently-won increases in metallurgical coke prices during the period. However, market expectations for further price rises are fading, with sizable slumps in coking coal derivatives recorded during the week.

On May 14, Mysteel's assessment of China's national composite coking coal price was at Yuan 1,368.2/tonne ($201.1/t) including the 13% VAT, up Yuan 16.6/t on week and extending its steady climb since mid-April. This further rise followed the success that China's independent met coke producers recently had in convincing steelmakers