MONTHLY: China's met coke market set to soften in October

China's metallurgical coke market is poised for downward corrections in October, mainly reflecting the ripple effects of softening coking coal prices and deteriorated steelmaker profitability. While a recovery cannot be entirely ruled out -- depending on developments in upstream and downstream markets -- met coke prices are unlikely to gain sustained strength, according to Mysteel's monthly report of the commodity.

October began on a bearish note, with the first round of met coke price cuts – Yuan 100-110/tonne ($14.9–16.4/t) – formally taking effect on October 1. The second attempt followed shortly on October 9, when major steelmakers in northern China requested further price cuts of the same magnitude from