WEEKLY: China's coking coal prices reverse uptrend as steel market softens

China's coking coal prices started to decline over May 15-21, reversing the uptrend seen over the previous five weeks, as a softening steel market made downstream buyers more cautious about coking coal purchases, according to Mysteel's latest survey.

On May 21, Mysteel assessed China's national composite coking coal price at Yuan 1,363.1/tonne ($200.5/t) including 13% VAT, down Yuan 5.1/t from a week earlier, with consecutive declines recorded throughout the week. The price recorded its first weekly drop since early April, as near-term prospects for the coking coal market