DAILY: Some Chinese steel mills push for 11th coke price cut

Citing the ongoing weakness in downstream steel demand, on March 12 morning some steelmakers in North China's Hebei province and Tianjin initiated a fresh round of Yuan 50-55/tonne ($6.9-7.6/t) cut on metallurgical coke procurement prices effective from March 14, according to market sources.

On Wednesday, the national composite coke price under Mysteel's assessment remained stable from the prior day at Yuan 1,343.6/t including the 13% VAT. As of Thursday morning, no official announcement had been issued by the leading steel mills in Hebei and eastern China's Shandong, but market sources expect them to