Surging International Prices Support Indian Met Coke Offers

Met coke prices surged up transversely over all sections whether be domestic or international. Domestic prices grew by INR 500-1,000/MT for different region, depending upon quantity and delivery terms.

Domestic Met coke offers moved up this week, after struggling for 2-3 months. Prices have surged by INR 500-1000/MT this week.

SteelMint assessed that indigenous Met coke offers strengthened after falling for a couple of months. Currently, prices are reviewed at INR 11,500-12,500/MT (ex plant + duties) for 25-80 mm BF grade Met coke.

A domestic purchaser told SteelMint, “Surging costs of crude material for coke (coking coal) and increment in clean vitality cess to INR 400/MT have prompted value ascent of domestic material. We are right now getting offers at around INR 11,500-12,500/MT (ex plant+ duties), loaded on truck. And for rack loading, no additional charges for those having inward sidings. However, additional INR 100-200/MT is charged for the plants, which have sidings outside.”

 Imported Met coke prices

Developing interest, fundamentally local Chinese steel industry has surged up Chinese Met coke export price in most recent two weeks. Prices have increased by USD 4-5/MT again this week, alike last week.

As per SteelMint’s evaluation, 64% CSR grade Met coke offers from China are costing at USD 136-140/MT, CFR India. Besides, 62% CSR offers are evaluated at USD 134-136/MT, CFR India. Alike 64% CSR grade, 62% CSR grade Met coke offers crept up by USD 4-5/MT in a week’s time for Panamax vessel.

An importer told to SteelMint, ”Met coke supplies are tighter for April delivery  and traders are asking for as much as high to USD 130/MT, FoB China for May bookings.”    

Meanwhile, SteelMint’s analyzed the total Met coke imported by the country at about 0.08 MnT in Mar’16. The quantity lessened by 76% M-o-M and import from China fell by 96% in a month’s time.Unlike always, Russian Met coke dominated imports and available in the range of USD 140-150/MT, CFR India, depending upon quantity, quality and landed port in India.