India’s met coke production dropped by 24% m-o-m to 2.87 million tonnes (mnt) in February 2023 as against 3.76 mnt in January 2023, according to data maintained with CoalMint. Out of total production, merchant met coke output was 0.22 mnt, down 33% m-o-m while captive production was 2.69 mnt, down 22% m-o-m.
The Indian Metallurgical Coke Manufacturers Association (IMCOM) stated the need to protect domestic Industries as India is becoming a “dumping ground” for imported met coke. They have sought to impose 30% anti-dumping duty on met coke to protect domestic manufacturers from cheaper imports. The merchant coke capacity in the Indian market is about 7 mnt and the current capacity utilisation is only 30%.
Key steel indicators
India’s finished steel production stood at 9.87 mnt in February, down by 8% m-o-m as against 10.93 mnt in January. Production inched up by 3% y-o-y compared to 9.59 mnt in February 2021.
Meanwhile, finished steel production rose by 6% y-o-y to 109.35 mnt in April 2022-February 2023 as against 103 mnt in the same period last year.
India’s finished steel exports remained largely stable m-o-m at 0.57 million tonne (mnt) in February compared with 0.58 mnt a month ago.
Crude steel production by the Indian mills stood at 9.89 mnt in February, down 9% from 10.93 mnt in January. In addition, output fell y-o-y compared to 10.14 mnt in February 2021.
India’s finished steel consumption stood at 10.09 mnt in February, inching down by 5% m-o-m as against 10.67 mnt in January. However, consumption rose by 11% y-o-y compared to 9.08 mnt in February 2021.
Outlook
Indian met coke production may see a rise amid efforts to promote domestic industries. Also, as IMCOM sought to impose an anti-dumping duty, this may result in a decline in met coke imports by the Indian mills.
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