DAILY: Futures rout cools spot coke sentiment in China

The sharp fall-off in China's coke futures on June 23, driven by growing negative indicators, has begun to undermine confidence in the spot coke market. Sentiment has shifted notably from earlier optimism, with market participants now anticipating protracted negotiations over potential further price increases.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, stood flat from the previous session at Yuan 1,946.4/tonne ($286.7/t) on Tuesday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also remained unchanged at Yuan 1,771.6/t, both including VAT. On the Dalian Commodity Exchange (DCE),