China: Domestic met coke producers propose third round of price cut

China’s domestic coke producers proposed the third round of price cut by RMB 200/t which was gradually accepted by some steel mills in Hebei and Shandong. The reason for the proposed price cut is reduced steel margins, making it unaffordable for steel mills to operate. Current met coke price at Hebei, Tangshan (quasi grade) is at RMB 3,600/t.