DAILY: China's met coke market set to stabilize, headwinds persist

China's metallurgical coke market is set to run stable in the near term, as momentum for further price gains is fading. However, persistent weakness in the downstream steel sector keeps concerns over a potential downside correction alive.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, stood flat on day at Yuan 2,000.3/tonne ($294/t) on July 8, while the MCI CWQ for wet-quenched quasi-first-grade met coke was also unchanged at Yuan 1,837.9/t, both including VAT. The domestic met coke market has remained