Indian Met Coke Market Highlights

Imported Met Coke/BF Grade Coke

1. Global traders are offering 30-80 mm BF grade coke/LAM coke (CSR 64) to Indian buyers/steel producers in the range of USD 178-181/MT, FoB China and USD 175-177/MT, FoB China  for CSR 62 material. Indian buyers/steel producers continue to negotiate.

Freight is at USD 13-14/MT for 30,000 MT DWT Met coke. 40,000 MT DWT vessel shall attract USD 12-13/MT charges. Freight rates for vessel carrying quantity below 25,000-30,000 MT may not be commercially viable.

Traders mentioned that market lacks clarity as of now and may take few days to witness the Chinese New Year impact on vessel movements/delays. Moving towards end of the month, it is anticipated that supply constraints in China may begin and freight rates may increase to USD 15-16/MT at the most.

According to sources, Prime Hard Coking coal prices have declined to USD 107/MT, FoB Australia and USD 113.5/MT, CFR China. Tier-2 HCC mid-vol offers are USD 96/MT, FoB Australia and USD 108/MT, CFR China.

For how long will domestic cokeries manage to receive orders for Coke at high prices is doubtful, looking at downward movement in imported Coking coal prices.

2. A South West India based importer received 27,000 MT Chinese Met coke (CSR 64, CRI 22, Moisture 5%) at Mangalore Port last evening. Offers from China at USD 205/MT, CFR India were negotiated to USD 200/MT, CFR India for importing the above quantity. The importer is confident that current offers for CSR 64 material can be negotiated to minimum USD 175-176/MT, FoB China.

3. A blast furnace operator based in Andhra Pradesh (Vizag bound) is looking to close 10,000-15,000 MT BF grade Coke/LAM Coke import deal for unloading at Gangavaram/Vizag Port.

Domestic Met Coke/BF Grade Market

Gujarat NRE holds Met Coke Prices for Feb’15

Sunil Kumar Maskara, COO at Gujarat NRE told SteelMint, “Gujarat NRE holds Met coke prices for the ongoing month at levels similar to Jan’15.

Imported Met coke is cheaper in contrast to domestic material as of now. Moreover, importers have to adjust 10-20% of under-size being generated while transportation.

Though, domestic demand is fine, we have decided to maintain prices at INR 13,500-14,000/MT (ex-works, Gujarat) and INR 13,900-14,400/MT (ex-works, Karnataka) as they are already at lower level”.

Imported Ferro Grade Met Coke/Nut Coke

1. A Singapore based trader has offloaded 22,434 MT Nut coke at Vizag Port last month, which then proceeded for balanced discharge at Haldia Port (vessel named Samjohn Light is at anchorage).

The material was loaded at Xingang Port in China and has been imported at USD 193-195/MT, CIF India. We are not sure if the entire quantity was Ferro Alloy grade (/5-20 mm/10-20 mm/10-25 mm) as some quantity may be Coke fines too.

Receivers of the imported material are Anjaney Alloys, Sri Girija, Sundaram Alloys, Sharp Ferro, Indsil Energy and Ankit Metals. Other receivers may be Rashmi Metaliks, Saraogi Udyog and Sunflag Iron & Steel.

2. Traders are offering Chinese Nut coke to Indian importers in the price range of USD 180-190/MT, CIF India depending upon the required quantity, sizes (3-8 mm/5-15 mm/10-25 mm) and port of discharge.

Small sized (5-15 mm) Nut coke offers are USD 180-185/MT, CFR India and offers for big sized (10-30 mm) are in the range of USD 185-190/MT, CFR India. Customers, who procure in bulk quantities may be able to negotiate at around USD 179-182/MT, CFR India for small sized (5-15 mm).

Imported Nut Coke Offers

Offers reliant on quantity & sizes
Prices in USD/MT, CIF India 
Source: SteelMint Research