DAILY: China's coking coal sentiment weak on Shanxi supply recovery bets

More progress in mine resumptions was heard in China's coking coal heartland on October 26. Signals of recovering supplies, however, also kept market sentiment weak, while the bleak conditions in the metallurgical coke and steel sectors have already limited buyers' interest in coking coal cargoes.

On Monday, Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,035.5/tonne ($305.3/t) including the 13% VAT, down Yuan 4.8/t from the previous working day, with the decline widening from last Friday's Yuan 2.7/t drop. Five months after the mine explosion in Qinyuan