DAILY: China's coking coal sentiment turns cautious on weak demand

Cautious sentiment persisted in China's coking coal market on September 7, as steel market performance had so far fallen short of expectations. Some participants worried that limited downstream recovery could weigh on the coking coal segment and curb upward price momentum.

On Monday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,274.8/tonne ($339/t) including the 13% VAT, up Yuan 8.8/t from the previous session. "With tight supplies continuing to provide fundamental support, domestic coking coal prices should register further near-term gains, though the