DAILY: China's 3rd met coke price cut brewing amid multiple pressures

Rumours about new price cuts circulated in the Chinese metallurgical coke market on December 16, as steelmakers expected that their demand for the raw material would continue faltering in the near term. Meanwhile, sluggish support from the cost front further clouded the market outlook.

On Tuesday, talks spread across the market that domestic steelmakers may attempt another round of cuts on met coke purchasing prices around this Friday, indicating mills' determination to drive down costs for raw materials, according to market sources. Since late November, steel mills had pressured coke producers to accept two