WEEKLY: Chinese coke producers' profits improve after price hike

As of April 17, the average losses on sales among the 30 independent coke firms under Mysteel's regular survey managed to shrink for the second successive week to Yuan 16/tonne ($2.19/t), easing by a marked Yuan 33/t from a week earlier.

The price hike of Yuan 50-55/t for metallurgical coke across the Chinese market, effective from April 15, had chiefly contributed to this recovery in coke producers' margins. This is the first hike after 11 rounds of coke price reductions in a row, as Mysteel Global reported. Following the price increase,