DAILY: China's spot coking coal prices rise further, futures soften

China's spot coking coal prices continued to rise on June 8 amid tight coal supply. In contrast, futures fell sharply, with some market participants increasingly cautious about how long the uptrend can hold.

On Monday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, reached Yuan 1,584.5/tonne ($233.7/t) including the 13% VAT, up Yuan 25.7/t from the previous session. Fresh suspensions continued to disrupt restart efforts at coking coal mines in North China's Shanxi province yesterday. Many mines in