China: Steel mills have proposed fourth round of met coke price reduction

Steel mills in Hebei and Shandong provinces in China proposed met coke price reduction for the fourth time by RMB 200/t ($30/t). Steel mills have little margins and are struggling because of sluggish demand. It is expected that the proposal will be accepted as coke producers have higher inventory levels. The current met coke price at Hebei, Tangshan (quasi grade) stands at RMB 3,400/t ($509/t).