DAILY: China's 4th met coke price cut effective, risks remain

China's metallurgical coke market remained weak on January 4, a makeup workday after the New Year's holiday over January 1-3. Given the limited supports for the market, many participants believe downside risks for the market remains in the days ahead, Mysteel Global notes.

Mysteel's assessment of China's quasi-first-grade met coke prices, for wet-quenching and dry-quenching types respectively, reached Yuan 1,382.5/tonne ($198/t) and Yuan 1,515.1/t including the 13% VAT on Sunday, down Yuan 56.7/t and Yuan 51.8/t from end-December. The drops followed a materialized cut of Yuan 50-55/t in steelmakers' purchasing prices for all