DAILY: Softer coal prices dent China's met coke hike prospects

China's metallurgical coke market secured a hard-won nationwide price increase on April 1 following protracted negotiations between steel mills and coke producers, relieving some financial pressure on the latter. However, market players' expectations for another price markup receded amid weaker cost support from the coking coal market.

Mysteel assessed the national quasi-first-grade met coke prices for wet- and dry-quenching types at Yuan 1,425.5/tonne ($207.4/t) and Yuan 1,569.8/t, including the 13% VAT, respectively, on Wednesday, higher by Yuan 43.8/t and Yuan 53.8/t than the last session. On Wednesday, Rizhao Steel Holding Group (Rizhao Steel) and Hebei Iron and