DAILY: China's spot coke sentiment stays firm despite softer futures

Sentiment in China's spot metallurgical coke market remained resilient on June 9, even as Dalian coke futures stumbled on the same day amid shifting concerns over coking coal supply. Market participants generally expect the upward trend in the spot coke market to persist in the near term, citing strong fundamentals.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, stayed flat on day at Yuan 1,786/tonne ($263.8/t) on Tuesday, while the MCI CWQ for wet-quenched quasi-first-grade met coke was also unchanged at Yuan 1,631/t, both including VAT. In contrast, coke derivatives nosedived on Tuesday, following