DAILY: China's coking coal prices continue to gain momentum

China's coking coal prices extended their uptrend on June 10. Earlier reports of supply-securing measures in Shaanxi had briefly weighed on sentiment, but the market outlook remained broadly bullish on the back of ongoing supply tightness.

On Wednesday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, reached Yuan 1,615.3/tonne ($238.3/t) including the 13% VAT, up another Yuan 8.4/t from the previous session. Mysteel's latest survey on Wednesday showed that 56 coking coal mines remained suspended across Shanxi province, representing a combined