DAILY: China's sixth met coke price hikes materialize, outlook bright

The sixth bout of China's metallurgical coke price hikes formally took effect nationwide on June 10, driven by steelmakers' quick concession amid their firm demand for the feed material. Market outlook stays bright, with another price uptick on the horizon soon.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, gained Yuan 53.9/tonne ($7.96/t) on day to Yuan 1,839.9/t on Wednesday, while the MCI CWQ for wet-quenched quasi-first-grade met coke rose Yuan 45.4/t to Yuan 1,676.4/t, both including VAT. On Wednesday, China's two leading steel groups