DAILY: China's tenth met coke price hike stalls as mills demand wanes

Chinese steelmakers' resistance has effectively stalled the tenth attempt to hike metallurgical coke prices by coke producers, and market participants are now largely anticipating stable coke prices in the near term with limited scope for sharp moves in either direction.

On July 10, Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, remained unchanged on day at Yuan 2,000.3/tonne ($295.2/t), while the MCI CWQ for wet-quenched quasi-first-grade met coke was also flat at Yuan 1,837.9/t, both including VAT. Domestic steelmakers have curtailed coke buying since