Growing demand, basically domestic has surged up Chinese Met coke prices drastically in last two weeks. Prices grew by USD 4-5/MT in last 15 days, but stable on weekly premises.
Chinese Met coke export offers remained stable for the current week on account of limited accessibility and perseveringly developing interest from indigenous market. Chinese Met coke vendors are quoting high prices and are not at all ready for the negotiations. Along with this, they are offering cargos for May’16, denying to supply any material for export in Apr’16.
SteelMint assessed that 64% CSR grade Met coke offers from China are costing at USD 119-120/MT, FoB. In like manner, 62% CSR offers are assessed at USD 116-117/MT, FoB alike last week.
Low coke production, loses to coke stoves, spurt in domestic Chinese excitement for material joined with expanded steel and ferro alloy in India incited price rise of Met coke.
A market participant told to SteelMint, “Abroad requests are static as if now however will develop in May’16 as it is anticipated that export will fall definitely in Apr’16 due to growing demand in residential business sector, due to which there will yet high demand in May.”
Indian domestic Met coke prices in India fell by INR 300-500/MT in the previous month still are showing no sign of improvement. Right now, domestic Met coke offers are surveyed at INR 11,300-12,000/MT for 25-80 mm BF grade Met coke.
Meanwhile SteelMint, surveyed that India, one of the significant buyer of Chinese Met coke, imported total of about 84,850 MT of material in Mar’16. The quantity imported in the last month of the fiscal is the lowest in FY16.
Qty in MnT
Source: India Imports- SteelMint Stats
Leave a Reply