DAILY: China's met coke market holds steady during holiday

China's metallurgical coke market remained stable during the country's May Day holiday (over May 1-5), with steelmakers still silent about the new coke price hike proposed by several coke producers on April 24. The market outlook for this steelmaking raw material lacks clarity with mixed signals in parallel.

While April witnessed two rounds of successful met coke price increases totalling Yuan 100-110/tonne ($14.6-16.1/t), the third bout – Yuan 50-55/t – has been shelved for more than a week from its original materialization date of April 27. The delay suggests downstream steel firms' intensifying caution in managing costs