DAILY: China's coking coal prices surge, mine suspensions widen

China's coking coal prices surged on May 25, as domestic supply tightened following broad mine suspensions for safety inspections across major coal-producing hubs. Greater uncertainties over the near-term supply underpinned bullish sentiment among some market players, sources said.

On Monday, Mysteel assessed China's national composite coking coal price at Yuan 1,388/tonne ($204.5/t) including the 13% VAT, jumping Yuan 25.5/t from the previous session. The strong daily gain more than offset the combined loss of Yuan 5.7/t recorded over the previous week. In North China's Shanxi, the country's largest