Chinese Met coke prices in the current week has declined by 2-3 USD/MT compared to the previous week.
Imported Met coke offers to India are witnessing continuous downfall owing to sluggish demand and INR depreciation in the market. Currently, 64% CSR BF grade Met coke from China is assessed at USD 141-142/MT CFR India for Oct’15 shipments, while 62% CSR around USD 139-140/MT CFR India.
Chinese 62/64% CSR Met coke is being offered at USD 139-141/MT CFR India, and is costing Indian buyers around INR 11,400-11,600/MT, (stock & sale). While Indian steelmakers are at the receiving end of these offers, the same have proved to be a reason for despair for local Met coke manufacturers.
“Currently market is at slow pace and Indian importers are not showing much interest in imports and the scenario may continue for a while “, said a south India based market participant.
Indian Met coke importers are hesitant in making fresh purchases owing to currency devaluation. They are waiting for strengthening of the currency to go for heavy shipments.
Domestic
Demand for indigenous Met coke has also weakened considerably as Indian steel manufacturers choose procuring the material from overseas, prompted by the falling prices in international markets. Domestic Met coke prices (25-80 mm) are assessed at INR 13,500-14,500/MT ex-plant.
China’s Met coke exports
China exported 4.25 MnT of coke, up by 26.5% from Jan’15-May’15 against the same period last calendar year .
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