DAILY: China's met coke prices set to retreat next week

China's metallurgical coke prices are expected to fall back next week, since steelmakers are reportedly mulling over cuts to their purchasing prices of this steelmaking material amid mounting financial strains, potentially bringing an end to the coke market's consecutive uptrend that has lasted for over three months.

On Thursday, Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, remained flat from the last session at Yuan 2,000.3/tonne ($295.2/t), while the MCI CWQ for wet-quenched quasi-first-grade met coke also remained unchanged at Yuan 1,839.2/t, both including VAT. Sources indicate that major steel producers