DAILY: China's coking coal prices extend downtrend amid multiple pressures

China's coking coal prices continued to drop on September 28, as market sentiment remained subdued amid slack trade and expectations for recovering domestic coal supplies in the future. The market is expected to run under pressure in the near term.

On Monday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,179/tonne ($324.9/t) including the 13% VAT, down Yuan 16.1/t from the previous session. In North China's Shanxi province, Mysteel recorded price cuts of Yuan 1-348/t from the previous session for 22 coking