- India’s met coke imports slide 9% y-o-y in H1CY’25
- China’s met coke tags may rise for 1st time in 3 weeks
India’s metallurgical coke (met coke) prices increased w-o-w across key trading hubs, reflecting firming market fundamentals, influenced by stable steel sector demand.
However, market sentiment remained cautious amid concerns over input cost fluctuations and global supply tightness.
Domestic met coke prices record marginal gains
As of 16 July, BF-grade (25-90 mm) metallurgical coke (met coke) prices in India saw a modest upward movement. BigMint assessed prices at INR 29,000/tonne (t) ex-Jajpur, reflecting a w-o-w increase of INR 500/t.
In western India, Gandhidham witnessed a marginal rise of INR 100/t, with prices reaching INR 29,100/t ex-works. These movements indicate a slightly firming domestic market amid stable steel sector demand.
Indian met coke imports decline during H1CY’25
India’s met coke imports stood at 2 million tonnes (mnt) in the first half of calendar year 2025 (H1CY’25), registering a 9% decline compared to H1CY’24. This reduction in import volumes is likely driven by the government’s quantitative restrictions (QRs), sufficient domestic availability, and cautious procurement by end-users.
Steel prices stable; regional pig iron demand diverges
In the downstream steel segment, price movements remained largely stable. Steel-grade pig iron in Durgapur was assessed at INR 32,300/t, showing no significant change from the previous week.
However, market sources point to a rising demand for foundry-grade pig iron in western India, suggesting a regional recovery in foundry operations, possibly led by the automotive and engineering sectors.
Chinese met coke market expects price hike amid supply constraints
China’s metallurgical coke market is poised for its first price hike in nearly three weeks, driven by tightening supply, firm demand from steel mills, rising raw material costs, and speculative buying. Coke producers in Hebei province are reportedly planning to raise prices by RMB 70-95/t, starting 14 July.
Inventories at coking plants have declined by nearly 25%, while environmental restrictions continued to cap output. Although some steelmakers resisted the hike due to weak downstream demand and adequate inventories, strong molten iron production and futures-driven restocking are expected to support short-term price increases.
Australian PHCC prices ease slightly
Prices of Australian premium hard coking coal (PHCC) declined marginally by $5/t w-o-w, settling at $173/t FOB. Despite this correction, overall market fundamentals in Asia remained relatively tight, supporting the outlook for stable-to-firm coke prices in the near term.
Outlook
Indian met coke prices are expected to remain stable in the near term, supported by lower imports and global supply concerns. However, subdued domestic steel demand may cap any significant price gains, keeping the market largely range-bound.
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