DAILY: China's coking coal trade speeds up, yet pressure persists

Trading in China's coking coal market picked up on October 12, with buyers' interest in select coal grades beginning to warm following recent price cuts, although pressure on the market persisted amid persistent buyer caution.

On Monday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,020.4/tonne ($301.7/t) including the 13% VAT, down Yuan 8/t from last Saturday, a make-up workday after China's National Day holiday. The daily drop narrowed notably from the previous session's Yuan 29.6/t