DAILY: Futures rallies ease bearishness for China's spot met coke market

The pessimistic prospects for China's spot metallurgical coke market eased slightly on March 9, as prices of both coking coal and steel billet regained some momentum after deeper global supply worries jolted futures prices sharply higher.

Mysteel's assessments for China's quasi-first-grade met coke prices for wet- and dry-quenching types settled at Yuan 1,382.8/tonne ($200.2/t) and Yuan 1,516/t, including the 13% VAT, respectively, on Monday, staying unchanged from the last session. The domestic derivatives market of ferrous commodities recorded strong rallies on Monday, led mainly by firm