WEEKLY: China's coking coal market softens amid cool demand

The Chinese coking coal market generally remained in downward corrections this week, as flagging confidence in the steel market has choked demand for the feed coal from both downstream users and speculative buyers. However, coking coal prices showed signs of stabilizing late in the week as sentiment brightened in the broader ferrous markets.

As of September 13, the national composite coking coal price under Mysteel's assessment had lost a total of Yuan 14.9/tonne ($2.1/t) on week to reach Yuan 1,415.7/t including the 13% VAT. The wavering steel prices that failed to improve steelmakers' profitability have remained a prime drag on the domestic coking