DAILY: China's met coke prices to stabilize on supportive signs

China's metallurgical coke prices are poised to stabilize in the near term, as enduring supportive factors effectively halt the previous downward trajectory. Looking further ahead, the market outlook remains broadly optimistic, underpinned by expected restocking activity and potential rebound in steel prices.

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 1,838.7/tonne ($272.5/t) on Monday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also held steady at Yuan 1,696.3/t. Market sources largely anticipate the met coke market stabilizing