DAILY: Poor profits weigh on China's met coke market, pressures grow

Following successive price cuts that pushed many Chinese met coke producers into the red, concerns over further deterioration in profitability intensified on January 5 due to persistent market downside pressures in the near term.

Weighing on the met coke market now is the increasing financial burden on coke producers after four consecutive reductions that steelmakers had pushed for in their purchasing prices for the raw material since late November last year, a market observer noted. According to Mysteel's survey of 30 merchant coke makers