DAILY: Sentiment cools in China's coking coal market

The sentiment cooled further in China's coking coal market on November 11, with negative signals from downstream markets persuading more miners to cut their offer prices for the feed coal to facilitate sales.

Mysteel's assessment of the national composite coking coal price moved lower to Yuan 1,452.1/tonne ($201.3/t) including the 13% VAT on Monday, losing another Yuan 9.8/t from a day earlier. Market watchers note that the weakening of steel and coke prices has led to lower tolerance for high coking coal prices