China's coking coal auction market on Dec 26

China's coking coal auction market had 157 Kt (mainly gas coal) listed on Dec 26, and the unsold rate dived 7 pps DoD to 41%. The average closing premium for all sold lots was 16.3 yuan/t. Prudent purchases downstream weighed on trading sentiment in anticipation of further coke price cuts. Several uncompetitively priced resources were aborted. Some sold lots experienced decreases ranging 10-90 yuan/t in settlements compared to previous levels, while others saw mild rebounds of 5-20 yuan/t.

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