DAILY: A fresh met coke price cut looms in China

China's metallurgical coke prices are expected to decline this week, since steelmakers have reportedly decided to lower their purchasing prices of this steelmaking material amid negative margins and weak demand. However, tight supply and potential restocking by steelmakers ahead of winter could limit further price declines.

On Tuesday, Mysteel Coke Index (MCI) CDQ, which tracks China's national dry-quenched quasi-first-grade met coke prices, remained unchanged from the last session at Yuan 2,107.9/tonne ($316/t). The MCI (CWQ) for wet-quenched quasi-first-grade met coke also held steady at Yuan 1,943/t. The same day, prevailing offers for dry-quenched quasi-first-grade and first-grade