DAILY: Holiday lull drives up China's met coke stocks, risks increase

Metallurgical coke stocks among Chinese producers had increased notably during the Chinese New Year (CNY) holiday over February 15-23, driven mainly by slack market trading and disrupted transport over the period. Rising inventories may trim coke makers' bargaining power in price negotiations with their steelmaker customers, amplifying downward market risks after the break, Mysteel's survey notes.

According to Mysteel's survey of 230 independent met coke producers across the country, by February 23 their combined inventories had surged 27% from February 12 to reach 555,200 tonnes, the highest level since mid-July last year. Sources reported disruptions in deliveries of met coke during the holiday break, due to