DAILY: Strong prospects sustain in China's coking coal market

The rapid surges in China's spot coking coal prices showed no signs of easing on August 25, as coal miners continued to leverage their tight supplies and held prices firm. Coking coal derivatives, however, retreated the same day, weighed down by wavering sentiment and circulating rumors.

On Tuesday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,001.8/tonne ($297.9/t) including the 13% VAT, up Yuan 29.6/t from the previous session. North China's Shanxi province saw another day of dramatic price surges yesterday. Mysteel's tracking data showed 16 coking coal