DAILY: China's coking coal prices lose steam as trading cools

The Chinese coking coal market saw broader price retreats on September 9, as trading activity weakened following earlier rallies. However, coking coal price corrections are still expected to be limited, with tight supply acting as a buffer.

On Wednesday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, decreased to Yuan 2,275.8/tonne ($339.3/t) including the 13% VAT, down Yuan 1.7/t from the previous session. This marked MCCI's first drop since August 3, as more coking coal buyers in China had become reluctant to