DAILY: China's met coke prices climb higher, caution lingers

The latest hikes in Chinese metallurgical coke prices - the fourth bout since early April - took effect nationwide on May 26, sealing coke producers' hard-fought success in price negotiations with steelmakers. Market players expect a fifth markup to be brought to the table shortly, while noting that resistance could stiffen.

On Tuesday, Mysteel Coke Index (MCI) CDQ, gauging China's national dry-quenched quasi-first-grade met coke prices, moved up by Yuan 53.8/tonne ($7.9/t) on day to Yuan 1,731.2/t, while the MCI CWQ for wet-quenched quasi-first-grade met coke recorded Yuan 1,572.5/t, higher by Yuan 45.4/t, both including VAT. The same day, Rizhao Steel