DAILY: China's met coke outlook turns bullish amid coal supply reduction

The outlook for China's metallurgical coke market turned bullish over the weekend, with coke produces expected to soon gain an upper hand over their prolonged negotiations with steel mills on the coke price hikes, according to market sources.

On May 22, Mysteel assessed the national quasi-first-grade met coke prices at Yuan 1,677.4/tonne ($246.9/t) for dry-quenched type and Yuan 1,527.1/t for the wet-quenched both including VAT, staying unchanged from the previous session. Market sentiment stayed downbeat last Friday, as weakening steel and coal prices still weighed on the coke