DAILY: China's third met coke hike gains partial acceptance

The bullish sentiment in China's metallurgical coke market persisted on August 28, driven by a third successive round of producer price hikes as coking coal costs surged and coke availability tightened. While several steel mills have already accepted the new offers, major mills are anticipated to follow suit on August 31 the scheduled effective date for the increase.

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 ($297.8/t) last Friday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also held steady at Yuan 1,830.6/t. On August 28, coke producers in China's key producing regions – including Hebei,