Chinese domestic coke feels downward pressure; demand wanes

摘要

Singapore—Chinese domestic coke prices have come under downward pressure, after holding out for five consecutive weeks, with a first round of price cuts ranging between Yuan 50-100/mt taking place mid-week in Shandong, Shanxi and Tangshan regions, market sources said. The sources expect a second round of price cuts in the near-term. The decline in coke prices came on the back of weakened demand, as Chinese steelmakers grapple with rising steel inventories amid a gloomy outlook on steel demand.