DAILY: China's met coke market remains in stalemate during holiday

China's metallurgical coke market remained in a stalemate during the country's Mid-Autumn holiday (September 25-27), with spot prices holding steady even as bearish sentiment prevailed. The market remained caught between two forces coke fundamentals still providing some support, but bearish sentiment dominating as participants looked to steel mills for signals on the first round of price cuts.

Mysteel Coke Index (MCI) CDQ, which tracks China's national prices for dry-quenched quasi-first-grade met coke, held steady from last session at Yuan 2,323.3/t ($346.1/t) on September 24, the last working day before the holiday. The MCI CWQ, which tracks wet-quenched quasi-first-grade met coke prices, likewise stood flat at Yuan