DAILY: China's coking coal prices continue to surge amid bullish expectations

Coking coal prices across China's major production hubs posted further sharp gains on August 21. Market participants remained positive on the near-term outlook, underpinned by persistent supply constraints and robust buying interest from downstream coke and steel producers.

Last Friday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, firmed to Yuan 1,939.6/tonne ($288.4/t) including the 13% VAT, up Yuan 51.6/t from the previous session, marking the largest daily increase since mid-April 2024. Coking coal miners across China's major producing hubs continued to lift