DAILY: China's met coke prices expected to rise, futures weaken

Some steelmakers in North China's Hebei and Tianjin on November 4 agreed to raise their purchasing prices for metallurgical coke products by Yuan 50-55/tonne ($7-7.7/t), effective November 5, marking coke plants' third victory in price negotiations with steelmakers since early October.

On Tuesday, Mysteel's assessment of Chinese quasi-first-grade met coke prices, for wet-quenching and dry-quenching types respectively, stood at Yuan 1,475.7/t and Yuan 1,619.4/t including the 13% VAT, unchanged from the previous session. Compared with coke makers' initial proposal of a Yuan 70-75/t increase for top-charged coke, steelmakers bargained and managed