WEEKLY: China's coke firms cut output amid margin strain

China's metallurgical coke output recorded a steeper decline this week, as producers curtailed production amid deteriorating margins. However, the rising inventories in hand alongside mounting selling pressure continue to weaken their near-term pricing power.

According to Mysteel's survey, the daily combined met coke output from the 230 independent coking plants it tracks nationwide declined by 1.83% from a week earlier - the sharpest weekly fall since the beginning of this year - to average 498,400 tonnes/day during July 23-29. The production volume also