DAILY: A second price cut weighs on China's met coke market

China's metallurgical coke market stayed under pressure on December 10, as some steelmakers announced a new Yuan 50-55/tonne ($7-7.7/t) cut in their purchasing prices for all coke products, effective December 12, according to market sources.

This marked steelmakers' second attempt for lower feed coke prices following a similar Yuan 50-55/t reduction that they had pressured coke plants to accept early this month, Mytseel Global notes. The persistent losses had mainly prompted domestic steelmakers to claw back some margins from their upstream suppliers, as reported. According