WEEKLY: China's met coke output rises, but downside risks loom

China's metallurgical coke production continued to recover over the past week, as improved profitability encouraged producers to lift operating rates. However, the market standoff continued after a sixth round of price hikes failed to gain traction, pointing to increasing downside risks ahead.

The sixth round of met coke price hikes proposed by some coke producers on September 7, at Yuan 100-110/tonne ($14.9-16.4/t), failed to gain acceptance from steelmakers as mills came under greater financial pressure with steel prices struggling to gain ground. This ended the upward trend in coke prices that