DAILY: Chinese coke firms initiate fifth met coke price hikes

China's metallurgical coke market held firm on September 4, with the fourth round of price hikes fully implemented. The fifth round had been proposed on September 7, underpinned by solid fundamentals. Nevertheless, caution lingers, as mounting losses among steelmakers could limit further upside.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, was unchanged from the last session at Yuan 2,215.6/tonne ($330.13/t) last Friday. The MCI CWQ for wet-quenched quasi-first-grade met coke also held steady at Yuan 2035.9/t. Following implementation of the fourth round of price hikes, China's