DAILY: China's fourth met coke hikes materialize; sentiment turns cautious

China's metallurgical coke market remained firm on September 3, with the fourth round of price hikes already implemented. Underlying fundamentals stayed robust, supported by rising coking coal prices and persistently tight coke supply, yet market sentiment has since turned more guarded.

On Thursday, Mysteel Coke Index (MCI) CDQ, which tracks China's nationwide prices for dry-quenched quasi-first-grade met coke, increased by Yuan 107.7/tonne ($16.03/t) to Yuan 2,215.6/t. The MCI CWQ, which tracks wet-quenched quasi-first-grade met coke prices, also rose by Yuan 89.5/t to Yuan 2,035.9/t. The gains followed the fourth round of