DAILY: China's coking coal prices extend rebound on robust auction sales

China's coking coal market extended its rebound on October 14, with online auctions again delivering positive results as buying interest improved. Yet the rally's staying power is still in question, pressured by a gradual recovery in domestic coal supply and persistent financial strain across downstream industries.

On Wednesday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, rose for the second consecutive day to stand at Yuan 2,034.3/tonne ($303.9/t) including the 13% VAT, up Yuan 8.7/t from Tuesday. In North China's Shanxi province, Mysteel recorded price increases of Yuan 5-162/t for 20