DAILY: China's coke producers mull 30% output cut as losses deepen

Facing deteriorating profit margins, Chinese metallurgical coke producers are mulling a 30% cut to their production in the near term -- a move that could strengthen their bargaining position in the potential third round of coke price reductions widely anticipated next week.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, stood still at Yuan 1,892.6/tonne ($280.1/t) on July 30, while the MCI CWQ for wet-quenched quasi-first-grade met coke remained unchanged at Yuan 1,748.8/t. Some leading coke firms in key producing regions agreed on Thursday to a