- Indian refineries raise pet coke offers for August
- Indian met coke offers stable, Chinese prices drop
- Indian portside thermal coal prices stable w-o-w
India: Portside South African coal prices stable w-o-w
Prices of South African RB2 (5500 GAR) coal at the ports have remained largely unchanged, standing at INR 9,600-9,650/tonne (t) ex-Gangavaram and ex-Vizag. RB3 (4800 NAR) coal prices at Gangavaram and Vizag ports are also stable, at INR 7,700-7,750/t. South African coal prices are expected to stay subdued on decreased demand and declining sponge prices. The ongoing Transnet maintenance has led to a price rise in the FOB market.
Indonesian thermal coal portside prices range-bound w-o-w
Indonesian thermal coal portside prices remained range-bound this week. The coal market is experiencing stability in prices due to sufficient stockpiles in China and weak demand from India on the back of regional disruptions and lower inquiries because of the monsoon. Notably, prices of the 3400 GAR at Navlakhi Port were stable at INR 5,200/t. Prices of the 4200 GAR at Kandla stood at INR 6,300/t ex-port.
Australian coking coal prices down w-o-w
Australian premium hard coking coal prices fell by $3/t w-o-w to $215/t FOB and $231.25/ t CNF on 2 August. This was due to sufficient material availability and trades taking place at lower levels. Despite the availability of September laycan being less compared to August cargoes, the supply continued to be more than demand. The prices seemed to have been bottomed out. However, end users still preferred to make only need-based buying and anticipated further price drop in the coking coal market.
India: Met coke prices stable amid weak steel market sentiment
Indian met coke prices this week held steady at INR 34,800/t ex-works Jajpur. Imported met coke prices were reportedly at INR 3,000-5,000/t, lower than domestic coke, but new deals were paused pending decisions on import restrictions.
Chinese met coke prices decline by RMB 50-55/t ($7)
Several mills in Hebei, including those in Xingtai, Shijiazhuang, and Tianjin, have lowered their bids for met coke. The price of wet quenched met coke has been reduced by RMB 50/t, while dry quenched met coke prices have fallen by RMB 55/t. In Tangshan, Hebei, met coke prices are now assessed at RMB 1,910/t ($263/t), marking a decrease of RMB 50/t ($7/t).
Indian refineries raise pet coke prices for August
Reliance Industries Limited (RIL) has raised pet coke prices to INR 12,663/t for August 2024, marking a m-o-m increase of INR 190/t. MRPL has increased pet coke prices by INR 40/t for shipments in August 2024. Nayara Energy has raised its pet coke prices by INR 221/t to INR 13,063/t for August 2024 sales, up from INR 12,842/t last month.
India: Imported pet coke prices remain stable w-o-w
Imported pet coke prices in India have shown a modest increase of $1/t this week. Currently, prices of pet coke with 6.5% sulfur are between $108 and $109/t CFR for the west coast, and $110 to $111/t CFR for the east coast. A significant price rise is unlikely, as domestic demand for pet coke is expected to remain weak during the monsoon season due to generally subdued construction activities.
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