Jindal Stainless, one of the largest merchant Met coke manufacturers based in East India, is offering Met coke at INR 14,100-14,200/MT ex-works. The company is yet to conclude fresh deals at its current offers with East/Central region based consumers.
Met coke supply in the domestic market has been hit because of Coking coal shortage. Imported Coking coal vessels arriving at East India ports are waiting for about 20-25 days or more for a berthing slot.
Limited rakes available for transferring the material from port to their coke oven plants, has forced importers to use trucks for movement at an additional cost. Even captive Met coke producers do not have sufficient material available for consumption in their blast furnaces as of now.
Ideally, Met coke prices in the domestic market should come down in line with the weakening prices of raw material such as Iron ore, Pellets, Pig iron and Sponge iron, which have decreased by INR 1,000-1,400/MT in a month. But, above mentioned market conditions have supported rise in Met coke prices.
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