DAILY: Chinese coke market stable on demand support

China's metallurgical coke prices kept largely unchanged on November 1. Although the market sentiment was slightly discouraged by the softening coke futures and the wavering steel market, most steelmakers still maintained steady coke purchases for their near-term production need.

As of last Friday, China's national composite coke price under Mysteel's assessment was largely unchanged at Yuan 1,789.4/tonne ($250.7/t), including the 13% VAT, up by a tiny Yuan 0.5/t on day. The same day, the most-traded January coke contract on the Dalian Commodity Exchange lost by 1.46% from Thursday's settlement