Metallurgical coke prices have constantly risen over the past two months, primarily owing to an increase in steel production in India, China and Southeast Asian countries.
Internationally, Met Coke manufacturers expect this trend to continue and believe that the future market has further upside potential as world steel demand is certainly expected to grow on the back of flourishing automotive and construction industries.
Per the World Steel Association, global steel demand will reach 1,616.1 million metric tons (MMT) in 2018, up 1.8% from 2017.
The latest import offer of 64% CSR Met Coke has increased up to about USD 374/MT FOB China, higher by USD 13/MT than the rates that prevailed in the previous week.
Similarly, offers for the 62% CSR Met Coke has gone up to around USD 364/MT FOB China.
For Indian buyers, these offers amount to USD 390/MT and USD 380/MT respectively on CNF basis.
Source: CoalMint Research
Nevertheless, India’s domestically produced Met Coke prices have continued to remain unchanged over the past two months, though several market analysts are projecting the prices to rise in accordance with the rising import offers in the near future.
The current ex-works prices of the Blast Furnace grade are hovering around INR 26,000/MT (east coast) and in the range of INR 27,000 to 28,000/MT (west coast).
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