WEEKLY: China's coking coal trading rebounds on bargain hunting

Trading activity for coking coal in China's online auctions intensified during October 8-15, reversing the slump seen in September, the results of Mysteel's latest survey showed. After the month-long decline in coking coal prices, bargain hunting drew some buyers back to the market though some doubts remain about the rally's staying power.

According to Mysteel's tracking data, the combined failure rate for the online auctions over the survey period stood at just 11.1%, with about 2.25 million tonnes successfully sold among the listed total of 2.53 million tonnes. The failure rate was the lowest since that of 3.6% recorded over the