DAILY: Chinese met coke prices tend to move lower

The Chinese metallurgical coke market is set to weaken further, as some steel mills in North China's Hebei and Tianjin announced on January 6 to reduce their coke purchase prices by Yuan 50-55/tonne ($6.8-7.5/t), effective from January 8, Mysteel Global learned from sources.

This new push for lower coke prices is the sixth consecutive one since October last year, and leading mills are expected to follow suit soon and prompt the overall materialization of this price reduction, a market watcher said. Although the previous five bouts of coke price cuts had thrown independent