DAILY: China's coke market gloomy as demand stays weak

On May 4, China's coke market still showed lackluster performance shortly after the five-day Labour Day holiday, largely due to quite low demand from steelmakers. Survey respondents said steelmakers' prolonged losses on finished steel sales kept curbing their appetite for raw materials.

As of May 4, China's national composite coke price under Mysteel's assessment declined by Yuan 29.2/tonne ($4.2/t) from April 28 to Yuan 2,258.2/t and including the 13% VAT. On Thursday, some steel mills in North China's Tangshan proposed for another round of coke price cut by Yuan 100/t effective on