DAILY: China coking coal prices dip as demand shrinks

China's coking coal prices continued the downward correction on November 8, primarily due to the shrinking demand from domestic coke and steel makers as their profitability worsened.

Mysteel's assessment of the national composite coking coal price moved lower to Yuan 1,461.9/tonne ($203.5/t) including the 13% VAT on Friday, losing another Yuan 5.5/t from a day earlier. The domestic coking coal market felt more downward pressure after further retreats in coke and steel prices continued to undermine the