WEEKLY: China wash-plants' met coal stocks dip as sales rise

Total stocks of processed coking coal held by the 110 independent and affiliated Chinese wash plants under Mysteel's regular survey had declined sharply by 102,800 tonnes on week to nearly 1.84 million tonnes as of September 3, according to the latest survey findings. An uptick in trading activity among buyers served to draw down the coking coal inventories, survey respondents remarked.

Market sentiment in China's domestic coking coal sector has strengthened recently, as more steelmakers and coke plants have been stepping up coking coal procurement, according to a Shanxi-based market watcher. For domestic steel producers, the smooth destocking of old standard rebars has eased their inventory pressures and prevented steel prices