DAILY: China's met coal to stabilize after hitting lows

Despite a further dip on December 9, the Chinese metallurgical coal market is expected to stabilize from its recent lows in the short run, with market sentiment buoyed by positive macroeconomic policies and downstream demand for winter restocking likely to pick up again.

The national composite coking coal price under Mysteel's assessment came in at Yuan 1,368.7/tonne ($188.5/t) including the 13% VAT on Monday, a new low since mid-June 2023 and down by another Yuan 1.9/t from last Friday. A major support for the near-term market may come from some end-users' accelerated winter