DAILY: China's second met coke price cut materializes

China's second round of metallurgical coke price cuts took effect nationwide on October 12, bringing cumulative reductions to Yuan 200-220/tonne ($30-33/t) since October 1. A third round is expected amid persistent headwinds in the steel market, though resistance from coke producers may intensify.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, dropped Yuan 107.7/t from the last session to Yuan 2,107.9/t on Monday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also lost Yuan 89.1/t to Yuan 1,956.2/t, both including VAT. On Monday, two leading Chinese