DAILY: China's coking coal sentiment ebbs, MCCI records 1st drop in 5 weeks

China's coking coal sentiment turned bearish this week, slowing trading activities and weighing on prices. The Mysteel Coking Coal Index (MCCI) has posted its first decline on June 25, snapping its fiveweek winning streak.

The MCCI, China's benchmark coking coal price index, edged down Yuan 0.6/tonne ($0.08/t) from the last session to Yuan 1,716.6/t including the 13% VAT on Thursday. While marginal, the dip marked the index's first decline since May 22, when a deadly mine explosion in Shanxi province prompted widespread safety