DAILY: China's met coke profits to worsen, yet sentiment strengthens

Profits among Chinese metallurgical coke producers are expected to worsen this week, as coking coal prices continued rising on January 13, lifting production costs for coke makers. But higher coal costs may also support met coke market against potential downside pressures, Mysteel Global learnt.

Active trading contributed to broad rises in coking coal settlement prices in Tuesday's online auctions. For example, Qinyuan low-sulfur low-volatile primary coking coal, produced in Changzhi city in North China's Shanxi province, was traded at an average price of Yuan 1,579/tonne ($226.3/t) EXW including the 13% VAT, up Yuan