- Met coke trade muted amid long holidays
- Domestic coke prices edge up in China
The Indian metallurgical coke (met coke) market remained broadly steady during the week ending 1 Oct ’25. BF-grade (25-90 mm) met coke was assessed at INR 29,500/t ex-Jajpur, while western India prices held at INR 30,000/t ex-works Gandhidham. Foundry-grade material stood at INR 35,600/t ex-Rajkot.
Stable prices, muted trade
Market activity stayed subdued due to holidays, particularly in Bengal during Durga Pooja. Domestic prices were largely unchanged from last week, even as global cues showed slight firmness.
Australian premium hard coking coal rose by $3/t w-o-w to $190/t FOB, adding mild cost-side pressure. However, buyers maintained a wait-and-watch approach, eyeing possible clarity on government’s anti-dumping duty in October.
China price hike before holidays
Chinese steel mills implemented the first round of coke price hikes before the National Day holiday. Tangshan, Xingtai, Shijiazhuang, and Tianjin mills raised wet- and dry-quenching coke by RMB 50-55/t ($ 7-7.7/t) and top-charging coke by RMB 70-75/t ($ 9.8-10.5/t), stabilizing markets in the short term.
Rising feed coal costs supported the rally, pushing producer margins back into the positive range. Regional assessments showed mixed moves: Luliang and Tangshan up RMB 50/t ($ 7/t), while Rizhao fell RMB 20/t ($ 2.8/t), reflecting cautious post-holiday expectations.
Pig iron market remains cautious
India’s pig iron market continued on a cautious note, limiting coke demand. Steel-grade pig iron prices at Durgapur fell INR 50/t to INR 32,300/t ex-works. NMDC’s Nagarnar plant auctioned 5,000 t at INR 31,350/t, slightly lower than the previous auction average of INR 31,650/t.
Outlook
With demand muted and prices stable, the near-term outlook remains balanced. Any significant movement will likely hinge on post-festival demand recovery and clarity around government trade policy.
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