DAILY: China's coking coal stays bullish, safety requirements may tighten

China's coking coal prices extended their gains on May 29. Market participants broadly expect coal supply to remain constrained in the near term as authorities reiterated their resolve to thoroughly tackle mine safety risks, providing continued support for prices.

Last Friday, the Mysteel Coking Coal Index, which tracks coking coal prices nationwide in China, reached Yuan 1,436/tonne ($212.1/t) including the 13% VAT, up another Yuan 5.6/t from the previous session. Coking coal availability in China remained tight as mine suspensions in Shanxi – the country's top coking coal-producing province