DAILY: China's coking coal rally shows signs of fatigue

China's coking coal price growth slowed further on June 23 amid softening market sentiment. Market players expect prices to gradually stabilise at current levels and remain rangebound in the near term.

On Tuesday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, reached Yuan 1,715.9/tonne ($252.8/t) including the 13% VAT, up Yuan 1.3/t from the previous session. Yesterday's price growth narrowed further from Monday's Yuan 5.3/t gain, marking the smallest daily increase in Mysteel's MCCI since the