DAILY: China's met coke market outlook remains clouded

China's metallurgical coke spot market held firm on September 11 after coke producers secured a fifth price hike, lifting spot transaction prices by a further Yuan 100-110/tonne ($14.92-16.41/t). However, signals from downstream steelmakers, the portside and futures markets remained unsupportive, continuing to cloud the outlook.

Last Friday, Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, remained unchanged from the last session at Yuan 2,323.3/t, while the MCI (CWQ) for wet-quenched quasi-first-grade met coke rose by Yuan 5.3/t to Yuan 2,131.6/t. The uptick in MCI (CWQ) mainly reflected price adjustments