DAILY: Chinese met coal prices dive to 4-year low

Chinese metallurgical coal prices have tumbled to a nearly four-year low amid faltering demand, with the national composite coking coal price under Mysteel's assessment losing another Yuan 6.2/tonne ($0.85/t) on day to Yuan 1,169.2/t including 13% VAT by February 12, marking its lowest level since late April 2021.

A key factor behind the decline was the continued pressure from downstream plants to lower raw material costs, driven by their worsening profitability due to weak coke and steel markets, Mysteel Global noted. Mysteel's survey showed ten major integrated steel mills in North China's Tangshan city suffered an average loss