DAILY: China's coking coal market stays weak, risks mount

China's coking coal market remained weak on October 30, with domestic prices extending their decline amid cautious buying. Pressure on the coal market, however, is expected to build further in November, as production in downstream sectors slows.

Last Friday, the Mysteel Coking Coal Index (MCCI), which tracks coking coal prices nationwide in China, stood at Yuan 2,009.3/tonne ($302/t) including the 13% VAT, down Yuan 7.1/t from the previous working day and marking a steady decline for eight consecutive sessions. Miners across major production hubs continued to lower