DAILY: China's met coal market steady, outlook improves

China's metallurgical coal market largely held steady on Friday, and the near-term outlook improved clearly after domestic coke prices gained by Yuan 50-60/tonne ($6.9-8.3/t).

On July 7, Chinese steelmakers were finally persuaded to consent to a Yuan 50-60/t rise in their coke purchase prices, marking the first price hike following persistent cuts since this year, Mysteel has learned from market sources. The increment in coke prices has passed bullish sentiment to the upstream coking