DAILY: China's coking coal prices edge up, yet outlook dims

China's coking coal market largely stabilised on July 13, with select prices inching up amid persistent supply tightness. The near-term outlook, however, remained dim, as the tepid steel market continued to weigh on raw material sectors.

On Monday, Mysteel Coking Coal Index (MCCI), a benchmark of China's coking coal prices nationwide, recovered slightly to Yuan 1,699/tonne ($250.4/t) including the 13% VAT, up by Yuan 1.4/t from the previous session. This marks its first increase following consecutive pullbacks since June 25. The upward blip followed hikes of