DAILY: China's coking coal auctions sag, prices extend declines

China's online auctions for coking coal cargoes remained sluggish on October 29 amid a lack of buyer interest in restocking. Continued weak activity pushed prices lower, deepening the decline in Mysteel's benchmark prices.

On October 29, the Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,016.4/tonne ($302.5/t) including the 13% VAT, down Yuan 6.2/t from the previous working day and marking a steady decline for seven consecutive working days. Mysteel's survey showed that buying interest