DAILY: China's met coke market stays weak, outlook gloomy

The Chinese metallurgical coke market extended the weak performance on December 30, as a new price cut on the raw material is set to materialize later this week. Prospects for the market also seemed clouded, with many participants discussing possibilities for further price cuts in the future.

On Tuesday, Mysteel's assessment of China's quasi-first-grade met coke prices, for wet-quenching and dry-quenching types respectively, remained unchanged from the last session at Yuan 1,439.2/tonne ($205.9/t) and Yuan 1,566.9/t including the 13% VAT. Despite a general stability of the market, market sources reported that some coke makers in North China