DAILY: China's met coke price cuts materialize, risks remain

The latest reduction in China's met coke prices took effect as scheduled, with price cuts from two leading steel producers on the same day primarily advancing the implementation. Market participants widely expect continuous downside risks going forward, citing a visible weakness in downstream demand.

Mysteel's assessments for China's quasi-first-grade met coke prices for wet- and dry-quenching types last Friday slid to Yuan 1,382.8/tonne ($199.7/t) and Yuan 1,516/t, including the 13% VAT, respectively, marking separate drops of Yuan 45.1/t and Yuan 53.8/t from the last session. Sources revealed that a major steel firm in East