Chinese Met coke prices have again fallen this week. Surplus supply from China coupled with sluggish global demand resulted in price fall.
Festive observance in India has resulted into timid trading of met coke from Indian buyers this week. Replete stock supply from Chinese sellers and sluggish demand from Indian buyers has compelled the Met coke prices to fall further.
Currently, 64% CSR met coke offers from China are hovering in the range of USD 135-136/MT, CFR India against USD 139-140/MT in the preceding week.
One of the Indian importers has told SteelMint ” Steel production cut in India and abundant coke supply from China has lead to fall in prices and if current scenario continues, the only way for survival of coke companies is to compromise with the quality to make profit”.
Also, he mentioned that ” there can be another trouble for Chinese sellers as major Indian importers are demanding quality check report of discharge port instead of load port”. Although Chinese buyers are not in favor of the move, and if they agree, they may increase price by USD10/MT, he further added.
Domestic Met coke prices (25-80 mm) are currently assessed at INR 12,500-13,000/MT, ex-plant; witnessing no change.
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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