DAILY: China's met coke prospect stays bullish as support builds

The near-term prospect for China's metallurgical coke market stayed bullish as of May 7, given supportive signs from both upstream and downstream markets. Chinese steelmakers are anticipated to accept the latest price hike proposal next week despite their ongoing attempt to stall the pricing negotiations.

On Thursday, Mysteel assessed the national quasi-first-grade met coke prices at Yuan 1,623.6/tonne ($238.7/t) for dry-quenched type and Yuan 1,480.5/t for wet-quenched, including VAT, both unchanged from the last session. Most market players predict the met coke price increases that major coke producers had initiated in late April could successfully