WEEKLY: China's coking coal trading cools as caution grows

Trading of coking coal in China's online auctions slowed notably during September 4-10. More players had become wary of future market trends, citing the steel market's tepid performance, the results of Mysteel's latest survey showed.

Daily failure rates in the coking coal auctions had rapidly worsened from 19.8% on September 4 to 71.4% on September 10. As such, the combined failure rate for the survey period reached 43%, compared with only 2.7% the previous week and marking the highest weekly level since November last