DAILY: China's coking coal trade cools, prices edge up

Coking coal trading activity in China slowed down on June 24, pushing the online auction failure rate to its highest in over six months. Price momentum remained subdued amid the weaker sentiment.

On Wednesday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, reached Yuan 1,717.2/tonne ($252.3/t) including the 13% VAT, up Yuan 1.3/t from the previous session. Growing concerns in the coking coal market have weighed on downstream buyers' interest this week, with online auction failure rates