DAILY: China's second met coke hikes materialize, third bout looms

China's metallurgical coke market remained firm on August 26 as the second round of price hikes took effect. With supportive conditions persisting, market participants anticipate a third upward move in the near term.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, climbed Yuan 110.7/tonne ($16.47/t) to Yuan 2,003.3/t on Wednesday, while the MCI CWQ for wet-quenched quasi-first-grade met coke rose Yuan 90.4/t to Yuan 1,830.6/t. The gains reflected the second round of coke price hikes implemented yesterday,