China's coking coal auction market on Dec 18

China's coking coal auction market had 1.003 Mt (mainly coking coal, fat coal, and lean coal) listed on Dec 18, and the unsold rate rose 20 pps DoD to 23%. The average closing premium for all sold lots was 11.34 yuan/t. Some low-stocked coking plants showed renewed appetite recently, improving transactions of certain coal grades. Yet the expectation of additional coke price cuts still capped overall buying, with high-priced cargoes settling at lower prices or even being aborted. The sold lots experienced more declines than increases compared to previous levels, with changes within 50 yuan/t.

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