Festive mood has triggered bearish sentiments in Met coke trading in India; prices again down by USD 1-2 MT this week.
Sluggish demand from Indian buyers and aggressive offers have plunged down imported Met coke prices further by USD 1-2/MT this week. Currently, 64% CSR Met coke offers from China are hovering in the range of USD 138-139/MT, CFR India against USD 139-140/MT in the preceding week.
According to an Indian importer, the material is being offered at USD 138/MT, CFR Paradip Port. However, it is assessed at USD 139/MT at Dhamra port and Krishnapatnam port due to high waiting period and higher port handling charges at these ports.
Chinese met coke prices are falling consecutively from couple of weeks in global market. Moreover, the condition is also bearish in Chinese domestic market.
A market participant from China said, “Influenced by fall in steel output, prices of Met coke, Chinese domestic coking coal (down by around RMB 30/MT) and PCI have suffered great pressure in some areas. However, Thermal coal manufacturers have enjoyed a good transaction as some power plants increased their inventories.
After falling constantly from a couple of months, indigenous Met coke futures have been stable since last three weeks.
Domestic Met coke prices (25-80 mm) are currently assessed at INR 12,500-13,000/MT, ex-plant; witnessing no change this week.
NINL, one of the prime producer of indigenous Met coke, has lowered its offers by INR 200/MT M-o-M.
According to circular dated 2 Nov’15, LAM coke was offered at INR 12,500/MT, ex-NINL (advance payment; exclusive of duties and taxes) with validity till 30 Nov’15.
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