DAILY: China's coking coal prices trend lower on worsening market conditions

China's coking coal market continued its downward trajectory on September 24, as coal trading slowed further amid bearish buyer expectations. Meanwhile, market sentiment soured even more during the Mid-Autumn holiday (September 2527), after the government of Shanxi province in North China called for faster mine restarts and stronger production in the country's coking coal heartland.

Last Thursday, Mysteel Coking Coal Index (MCCI), which tracks coking coal price nationwide in China, stood at Yuan 2,195.1/tonne ($326.9/t) including the 13% VAT, down Yuan 16.7/t from the previous session. In the online coking coal auctions, 523,000 tonnes of cargoes were listed on Thursday, yet only 103,000 tonnes were