DAILY: China's met coke market set to gain ground

China's metallurgical coke market is now poised for an unexpected near-term rebound, primarily as strengthening coking coal prices provide renewed cost support, defying earlier market expectations of price stabilization.

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 Tuesday, while the MCI CWQ for wet-quenched quasi-first-grade met coke edged lower by Yuan 1.3/t to Yuan 1,695/t. The modest dip in the MCI CWQ