Monsoon Arrival Indicates Met Coke Demand to Weaken Ahead

Onset of the monsoon season in India and lower import offers have indicated Met coke demand to go lower in the coming days.

Import offers have fallen further. According to a reputed importer, import offers of the 64% CSR Met coke have gone down to USD 158/MT FoB China, and that of the 62% CSR Met coke have sinked to USD 156/MT FoB China.

For Indian buyers, these offers amount to USD 168/MT CFR India and USD 165/MT CFR India respectively.

In view of the imminent low demand in the country, Indian producers have kept their ex-works prices unchanged.

In the eastern coast of the country, prices of the Blast Furnace grade are at INR 14,000-14,500/MT (ex-works); and that in the western coast of the country are at INR 15,000-15,500/MT (ex-works).

IMPORTS

During the 1-10 Jun’16 period, 139,100 MT of Met coke had landed at Indian ports, according to SteelMint Research.