WEEKLY: China's coking coal market sentiment dips

Sentiment in China's coking coal market softened during October 28-November 1, with fluctuating steel prices creating uncertainty about demand. As of November 1, the national composite coking coal price under Mysteel's assessment had fallen by Yuan 24.9/tonne ($3.5/t) on week to reach Yuan 1,498/t including the 13% VAT.

Early last week, market sentiment was relatively optimistic, but pessimism soon grew among participants as steel prices lost upward momentum later in the week, impacting mill profits, Mysteel Global notes. As of October 30, the ten steel mills that Mysteel surveys in Tangshan, the country's top steelmaking city in northern