DAILY: China's spot met coke market steady, downside risks build

China's spot metallurgical coke market remained in a stalemate as of October 26, lacking clear directional momentum. While the standoff between coke producers and steelmakers is expected to keep met coke prices stable in the near term, persistent weakness in the steel market and waning cost support could set the stage for further declines before long.

On Monday, Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, remained unchanged from the previous session at Yuan 2,107.9/tonne ($316/t). Meanwhile, the MCI (CWQ) for wet-quenched quasi-first-grade met coke also held steady at Yuan 1,953.5/t. As of Monday, prevailing offers for Lvliang dry-quenched quasi-first-grade