DAILY: China's coking coal trade slows, sentiment softens

China's coking coal trading stayed tepid on September 10, with online auctions again logging higher failure rates yesterday. Affected by softened market sentiment, more players retreated to the sidelines, sources noted.

On Thursday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, edged up to Yuan 2,277.5/tonne ($339.1/t) including the 13% VAT, higher by Yuan 1.7/t from the previous session. The uptick in MCCI was driven by yesterday's strong performance in Tangshan, North China's Hebei province. Encouraged