DAILY: Chinese steelmakers seek another met coke price cut

Chinese steelmakers requested a second round of metallurgical coke price reductions on July 27, as they continued to push for lower procurement costs following the initial cut wave last week. However, resistance to more rounds of price cuts may strengthen, with coke producers expected to adopt a firmer stance in price negotiations.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, stood unchanged from the last session at Yuan 1,946.4/tonne ($287.7/t) on Monday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also stayed flat at Yuan 1,794/t, both including VAT. Major steel producers in North China's