DAILY: China's coking coal prices remain strong amid tight supply

Tight supply since late May has shown little sign of easing, propelling Chinese coking coal prices higher again on June 12. A series of hikes in downstream metallurgical coke prices over the past three weeks has lent additional support to the market.

Last Friday, Mysteel Coking Coal Index (MCCI) reached Yuan 1,626.3/tonne ($240.7/t) including the 13% VAT, up another Yuan 5.4/t on day and extending its uptrend starting late May. In Jinzhong city, North China's Shanxi province, one miner lifted its price for washed Lingshi primary coking coal (A 12%, S 0.5%,