DAILY: China's coking coal sentiment firmer, MCCI jumps

Bullish sentiment among Chinese coking coal participants intensified further on August 19. The sentiment-driven liquidity prompted miners to implement aggressive price hikes, leading to stronger rise in Mysteel's benchmark price for domestic coking coal.

On Wednesday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 1854.8/tonne ($276/t) including the 13% VAT, higher by a substantial Yuan 41.6/t from the previous session. While MCCI has maintained a steady increase so far this month, its growth pace had notably