DAILY: Futures surges improve China's spot met coke outlook

Following surges in China's metallurgical coke futures prices, the near-term outlook for the spot market also brightened on January 7, with many market participants expecting met coke prices to stabilise hereafter.

Yesterday, rumours widely circulated in the market that Northwest China's Shaanxi province had revoked coal production capacities totalling 19 million tonnes/year from 26 local mines, according to market sources. Although the impacted mines mainly produce thermal coal, expectations for China's tighter coal supplies in general still boosted sentiment both in