DAILY: China's met coke market holds flat, uncertainties remain

China's metallurgical coke market remained stable on August 6, as market participants awaited directional cues from major steelmakers on whether further price cuts would be pursued. However, with supportive factors for the coke market increasingly emerging, they have grown less convinced that mills' latest price cut requests will be smoothly implemented as previously expected.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, stood flat from the last session at Yuan 1,892.6/tonne ($280.5/t) on Thursday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also remained unchanged at Yuan 1,740.4/t. As of Thursday, prevailing quotations for quasi-first-grade and first-grade