DAILY: China's coking coal market remains under pressure

Pressure persisted in China's coking coal market on May 21. Market sources reported that transactions for steelmaking raw materials had slowed in response to tepid steel market conditions exacerbated by bad weather, subsequently dragging down raw material prices.

On Thursday, Mysteel assessed China's national composite coking coal price at Yuan 1,363.1/tonne ($200.4/t) including the 13% VAT, down another Yuan 1.4/t from the previous session. China's coking coal prices began to trend lower this week. As heavy rainfall dampened steel consumption across the country, downstream users became notably more