DAILY: China's met coke market outlook remains bearish

China's metallurgical coke market stayed under pressure as of July 28, with expectations of additional price reductions emerging as headwinds for the steel market persist. Nonetheless, recent subtle shifts in coking operations and upstream coal dynamics may improve coke producers' bargaining position.

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 ($287.5/t) on Tuesday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also stayed flat at Yuan 1,794/t, both including VAT. The latest Yuan 50–55/t cuts on