DAILY: Cautious buying further weighs on China's coking coal prices

China's coking coal prices fell further on October 9--10, as buyers remained cautious amid lackluster performance in the metallurgical coke and steel sectors. October 10 was a make-up workday following China's National Day holiday earlier this month, Mysteel Global notes.

Over last Friday and Saturday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, dropped by a total of Yuan 66.1/tonne ($9.9/t) from last Thursday to reach Yuan 2,028.4/t including the 13% VAT. Sources reported that many miners lowered their prices further as market sentiment gradually