DAILY: Growing caution dents China's coking coal upward momentum

The uptrend in China's coking coal market continued to moderate on September 8, as participants grew increasingly cautious. Some chose to stay on the sidelines, awaiting clearer directional cues, according to market sources.

On Tuesday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,277.5/tonne ($339.6/t) including the 13% VAT, up by just Yuan 2.7/t from the previous session. Since the start of September, coking coal end-users such as coking plants and steelmakers have grown increasingly