DAILY: China's coking coal prices tumble as pressures mount

Mysteel's survey recorded wide price cuts across China's coking coal producing hubs on October 8, reflecting tepid trading during the past National Day holiday (October 1-7) and a still-bearish expectation for the near-term market.

On October 8, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,094.5/tonne ($312.7/t) including the 13% VAT, plunging by Yuan 40.8/t from the end of September. No updates of the index were published over October 1-7 due to the holiday break,