DAILY: China's met coke to dip further despite potential production cuts

China's metallurgical coke market is expected to extend its downtrend in the near term, even as coke producers attempt to push back with production cuts. Sources indicate that persistent pressure from steelmakers seeking to reduce input costs will continue to dictate market direction for met coke.

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 1,946.4/tonne ($287.5/t) on Thursday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also stood unchanged at Yuan 1,794/t, both including VAT. Sources said that during a meeting