DAILY: China's coking coal futures rally, yet spot market sees little support

China's coking coal futures rebounded on July 14 amid renewed Middle East tensions. However, the rally has yet to spill over into the spot market, where persistently weak downstream demand continued to cap physical prices.

The most-active September coking coal contract on the Dalian Commodity Exchange (DCE) closed Tuesday's daytime session at Yuan 1,260/tonne ($186.2/t), up 1.2% from Monday's settlement and reversing losses from the two preceding sessions. The rally came amid a broader upswing in ferrous futures, led by steel and iron ore. Rising