Met Coke prices are up swinging due to tighter availability in the key international market. In China, availability of Met Coke has become lower due to the supply-cut implemented in the winter season. Additionally, the increase in the road and rail freight rates in China has imparted upward pressure in the Met Coke export offers in that country. At the same time, ocean freight rates also have gone up, pulling up landed costs for importers. Freight rates for Panamax vessels along the China-India route have gone up to around USD 17/MT.
The latest offers for the 64% CSR Met Coke is assessed at around USD 327.50/MT FoB China, which is higher by around USD 23.50/MT over the week-ago offers. Likewise, the recent offers for the 62% CSR Met Coke is assessed higher by around USD 23.50/MT, at around USD 317.50/MT FoB China, against the offers in the week last.
These offers translate into: USD 344.50/MT and USD 334.50/MT respectively on CFR India basis.
In India, the demand has gained momentum, mainly due to the rising offers. This has also prompted the Indian producers to raise their ex-works prices. CoalMint has learnt that two producers in the west coast have raised their ex-works prices by INR 750/MT and INR 3,000/MT respectively. However, there was no change reported in the east coast, due to production issues.
The prevailing ex-works prices for the Blast Furnace grade in the country are at: INR 22,200/MT (east coast), and INR 27,500/MT and 31,000/MT (west coast).
Source: CoalMint Research
Leave a Reply