DAILY: Tight supply to further underpin China's met coke market

Tight supply-demand fundamentals are poised to further lift China's metallurgical coke market, with a seventh price hike proposed on June 12. Firm coking coal prices and robust downstream procurement continue to reinforce the bullish sentiment in the market.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, remained flat on day at Yuan 1,839.9/tonne ($271.6/t) on Thursday, while the MCI CWQ for wet-quenched quasi-first-grade met coke edged up Yuan 3/t to Yuan 1,679.4/t, both including VAT. In most producing regions, met coke prices