- China sees 1st round of met coke price hikes since Oct
- Imported met coke market in India remains quiet
Domestic met coke prices remained stable w-o-w. As per BigMint’s assessment, 25-90 mm blast furnace (BF) grade coke prices stood at INR 34,200/tonne (t) exw-Jajpur, while Gandhidham’s tags were recorded at INR 32,200/t exw. The market adopted a cautious stance, owing to a steep hike in coking coal prices globally.
Factors behind price stability
Imported met coke trades remain quiet: The imported met coke market in India remained silent this week. Recently, a leading Indian steel mill closed two deals for Colombian coke – for 35,000 t at $265/t CFR about two weeks ago and another 30,000 t earlier this week, likely at around $263 CFR – though exact details are still awaited. Both cargoes are scheduled for end-June arrival.
Australian coking coal prices recover after hitting 4-year low: Australian PHCC prices recovered sharply after hitting a four-year low of $166/t FOB in March 2025. As of mid-April, prices stood at $183/t FOB Australia. Prices surged due to supply concerns following accidents at Australia’s two leading mines – Moranbah North and Appin – last week.
China sees 1st round of met coke price hikes since Oct: China’s met coke market saw its first price hike of RMB 50-55/t after 11 rounds of price cuts seen since late-October, but hopes for a second rise are dimming. Despite a slight demand recovery and low inventories, cautious sentiment, weak support from the coking coal market, and escalating US-China trade tensions dulled trade momentum. Steel mills were hesitant about purchasing material, which kept market outlook uncertain amid fragile economic and geopolitical signals.
Indian pig iron tags inch down w-o-w: Steel-grade pig iron prices in Durgapur, India, fell by INR 200/t w-o-w to INR 35,300/t exw.
Outlook
Domestic met coke prices may see some improvement in the near term, given the hike in coking coal tags. However, sustenance from steel prices remains a concern.
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