WEEKLY: China's met coke production continues slow recovery

The recovery in China's metallurgical coke production remained slow this week, as the first round of coke price cuts, which took effect last Thursday, squeezed coke producers' profit margins and dampened their producing enthusiasm. Supply conditions are expected to remain relatively tight in the near term, suggesting a firm price floor for this steelmaking feed material despite recent pullbacks.

Coke producers' operation ramp-ups, driven by their improved margins earlier, slowed this week, leaving coke availability in China's major producing hubs still constrained. Meanwhile, traders also slowed coke deliveries to major ports amid rising market risks, further reducing saleable tonnages at ports. Together, these factors paint a picture of