DAILY: Chinese coke producers initiate third met coke price hikes

China's metallurgical coke market remained firm on August 27, following formal materialization of the second round of price hikes. Coke producers soon initiated a third round of increases this morning, driven by bullish expectations over the near-term market.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, remained unchanged at Yuan 2,003.3/tonne ($298.1/t) on Thursday, while the MCI CWQ for wet-quenched quasi-first-grade met coke was also stable at Yuan 1,830.6/t. With the two rounds of price hikes now in effect, the cumulative increase