DAILY: China's coking coal market remains bullish amid tight supply

China's coking coal prices extended their uptrend on June 2. Although domestic supply is gradually recovering, overall availability remains rather tight, market sources noted. Many participants are now awaiting further supply-side developments, while the impact of safety inspections continues to unfold.

On Tuesday, the Mysteel Coking Coal Index, gauging coking coal prices nationwide in China, reached Yuan 1,482/tonne ($219/t) including the 13% VAT, up another Yuan 18.3/t from the previous session. "The pace of coal mine resumptions has remained slow, with output at some restarted mines yet to recover to pre-suspension