DAILY: China's met coke outlook still clouded, pressures mount

China's metallurgical coke market outlook remained clouded on August 3, while downside pressures kept accumulating amid sluggish sales. Going forward, market direction will largely depend on how quickly integrated steel mills resume their operations.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, stood still from the last session at Yuan 1,892.6/tonne ($280.3/t) on Monday, while the MCI CWQ for wet-quenched quasi-first-grade met coke dipped by Yuan 8.4/t to Yuan 1,740.4/t. The modest dip in the MCI CWQ came