DAILY: China's met coke prices strengthen, sentiment diverges

Chinese metallurgical coke prices strengthened on November 17, following last Saturday's materialization of a new Yuan 50-55/tonne ($7-7.7/t) hike for all met coke products. Market sentiment, however, diverged yesterday with some participants becoming negative about the market outlook.

On Monday, Mysteel assessed the quasi-first-grade met coke prices, for wet-quenching and dry-quenching types respectively, at Yuan 1,567/t and Yuan 1,727.5/t including the 13% VAT, up Yuan 45.2/t and Yuan 54.2/t from the previous session, respectively. This marked the fourth successful price hike on domestic met coke since early October.