DAILY: China's coking coal prices extend gains on supply disruptions

Tight coking coal supply across China's key production hubs continued to push up domestic prices on May 26. However, market participants' views on the outlook began to diverge, as some questioned the sustainability of the recent strength.

On Tuesday, the Mysteel Coking Coal Index (MCCI), which tracks national coking coal prices in China, settled at Yuan 1,400/tonne ($206.4/t) including the 13% VAT, up Yuan 12/t from the previous session. Widespread mine suspensions for safety inspections continued in Shanxi, China's top coking coal producing province in North China.