DAILY: Chinese steelmakers initiate first met coke price cut

Major steel mills in North China's Hebei province and Tianjin municipality announced on September 29 that they would cut their metallurgical coke purchase prices by Yuan 100-110/t, effective October 1 - the first round of price cuts after five consecutive hikes since mid-August.

The Mysteel Coke Index (MCI) CDQ, which tracks China's national prices for dry-quenched quasi-first-grade met coke, stayed unchanged from the previous session at Yuan 2,323.3/tonne ($346.6/t) on Tuesday. The MCI CWQ, tracking wet-quenched quasi-first-grade met coke, also held steady at Yuan 2,131.6/t, with both prices including VAT. The first round