DAILY: China's met coke market set to falter, outlook dim

China's metallurgical coke market is poised for a downturn on July 22, signaling the start of a correction cycle. Persistent sluggish trading of this steelmaking material amid weak downstream demand points to a gloomy nearterm outlook, with more coke price cuts likely on the horizon.

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 ($295.6/t) on Tuesday, while the MCI CWQ for wet-quenched quasi-first-grade met coke was also unchanged at Yuan 1,839.2/t, both including VAT. The first round of met coke