DAILY: China's coking coal trade stays brisk, prices move higher

Buying activity in China's coking coal market remained buoyant on June 3 amid persistently tight supply. Coal prices extended their firm uptrend, with market participants expecting further gains in the near term.

On Wednesday, Mysteel Coking Coal Index (MCCI), gauging coking coal prices nationwide in China, climbed higher to Yuan 1,510.2/tonne ($222.9/t) including the 13% VAT, up another Yuan 28.2/t from the previous session. The firmer daily gain reflected strong bullish sentiment in the coking coal market, as tight supply – stemming