DAILY: China's met coke set to rise as steel mills soften stance

China's metallurgical coke prices are poised for an uplift after some northern steel producers announced their acceptance of higher coke purchasing prices on May 25. The country's top two steel groups are expected to give their nods on May 26, paving the way for the latest price hike to take effect nationwide.

On May 25, Mysteel assessed the national quasi-first-grade met coke prices at Yuan 1,677.4/tonne ($247.3/t) for dry-quenched type and Yuan 1,527.1/t for the wet-quenched both including VAT, staying unchanged from the previous session. The same day, major steelmakers in North China's Tianjin and Hebei agreed to the Yuan 50-55/t increases