DAILY: China's coking coal market buoyant on supply constraints

China's coking coal market posted sharp gains across major producing regions again on August 24. Miners maintained an aggressive pricing stance, anticipating that recent met coke hikes will provide further upward impetus given persistently tight fundamentals.

On Monday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 1,972.2/tonne ($293.2/t) including the 13% VAT, up Yuan 32.6/t from the previous session. The benchmark price advanced amid broad-based gains across major producing centers yesterday. A surprising surge of Yuan 595/t was