DAILY: Positive sentiment sustains in China's met coke market

Sentiment in China's metallurgical coke market remained upbeat as of June 5, following a fresh price hike proposal from coke producers the same day. While cost-side support is expected to persist in the near term, market participants are increasingly alert to mounting pressures on downstream steel mills.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, held steady on day at Yuan 1,786/tonne ($264/t) last Friday, while the MCI CWQ for wet-quenched quasi-first-grade met coke was also unchanged at Yuan 1,631/t, both including VAT. Major steelmakers in North China's Hebei province and