DAILY: China's spot coking coal prices continue to rise, futures drop

Spot coking coal prices at China's key producing hubs rose further on September 3, supported by solid trade and tight supply. However, coking coal futures fell again yesterday, weighed down by growing concerns over possible downward pressure, market sources said.

On Thursday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,253.8/tonne ($335.6/t) including the 13% VAT, up Yuan 29.4/t from the previous session. China's major coking coal production hubs saw strong buying interest again yesterday, as buyers actively sought available spot cargoes