DAILY: China's met coke market remains under pressure

Downward pressure continued to weigh on China's metallurgical coke market as of October 13. Steel mills are expected to press for a third round of met coke price reductions, although the extent of the next cut remains uncertain amid a tougher price standoff between coke producers and steelmakers.

Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, stood unchanged at Yuan 2,107.9/tonne ($315/t) on Tuesday, while the MCI CWQ for wet-quenched quasi-first-grade met coke also stayed flat at Yuan 1,956.2/t, both including VAT. Since October 1, China's met coke prices have fallen by