WEEKLY: China's coking coal trade slows on softer sentiment

China's coking coal trade slowed over June 22-26, evidenced by the failure rates of online auctions under Mysteel's tracking which surged to their highest levels in the past five weeks. The thinning transactions reflected a sentiment ebb among players, as the steel sector's increasingly tepid performance has fueled concerns about future metallurgical coal and coke demand, according to Mysteel's latest survey.

During the survey period, a total of 1.1 million tonnes of coking coal cargoes were listed for online auctions but ultimately 413,900 tonnes remained unsold. This led the combined failure rate over the five days to average 37.6%, marking the highest level since late November last year, according to