China's metallurgical coke market experienced a rapid rebound in October following losses a month earlier.
East China's Rizhao Iron & Steel and north China's Hesteel - two major buyers of coke in the country - had both lowered their purchase prices in mid- and late-September, cuts that amounted to 200-230 yuan ($29-33) per tonne.Those followed six rounds of increases totally about 640 yuan per tonne that took place between early August and early September, which took prices to historical highs.A few other steelmakers in China had also lowered their coke purchase prices for a third and even fourth time between late September and early October after the two major mill's cuts.But with sentiment improving after China's Golden Week holiday in...