China coking coal futures set record 46% monthly surge on supply squeeze

Coking coal futures on China's Dalian exchange are on track for a record 46% monthly surge, driven by persistent supply tightness following a May mining disaster and increased safety inspections at other mines. The price spike reflects a structural supply constraint in a key steelmaking input, with implications for Chinese steel production costs and global metallurgical coal markets. Uncertainty remains over how quickly Chinese authorities will ease safety checks or release strategic reserves to cool prices.