- East India sees price rise in BF-grade coke
- 2nd round of price hike seen in Chinese market
The Indian metallurgical coke (met coke) market showed mixed trends across regions in the week ending 30 October, 2025. While the eastern Indian market experienced a price rise, the western market remained stable.
In eastern India, BF-grade met coke (25-90 mm) was assessed at INR 30,500/t ex-Jajpur, reflecting a week-on-week (w-o-w) increase of INR 600/t. On the other hand, in western India, prices held steady at INR 30,000/t ex-works Gandhidham.
Similarly, the Foundry-grade met coke prices remained unchanged at INR 35,500/t ex-Rajkot, highlighting a stable trend in the west.
Eastern India sees coke price rise
The demand for met coke in eastern India was robust, which contributed to the price rise. One major manufacturer in eastern India concluded a deal for around 22,500 t of met coke at INR 31,500/t ex-works, signalling a stronger market.
However, the market activity in the western region remained subdued due to the Diwali festivities, which slowed demand. This led to a more stable market in the west, with prices holding steady.
Supply-side dynamics affected by Australian coal
The supply-side dynamics were also impacted by Australian premium hard coking coal, which rose by $5/t w-o-w to $194/tonne FOB. This increase was primarily driven by stronger indications of Chinese buying, which further pushed Australian offers higher.
China’s met coke market strengthens
The Chinese market for met coke also saw a second round of price hike in response to tight supply, resilient demand, and rising coke-making costs. Steelmakers in China have had to accept these price hikes, which were delayed compared to earlier expectations.
In Hebei, the prices for top-charging coke increased by RMB 50-55/t ($ 7-8/t), with wet-quenching coke now priced at RMB 1,660/t ($ 234/t) and dry-quenching coke at RMB 2,030/t ($ 286/t). In Shandong, prices rose to RMB 1,495/t ($ 211/t) for Quasi Grade I coke and RMB 1,750/t ($ 246/t) for dry-quenching coke, signalling a strengthening market sentiment.
Steel grade pig iron prices drop
The steel-grade pig iron market witnessed a slight decline in prices. The price in Durgapur was assessed at INR 31,250/t, reflecting a decrease of INR 250/t compared to the previous week.
The auction results from SAIL-Bokaro indicated a drop in prices, with 4,200 t booked at a base price of INR 30,700/t. Similarly, auctions conducted by NMDC and SAIL’s Rourkela Steel Plant also saw price reductions, with the latter’s auction price dropping by INR 1,300/t.
Outlook
The Indian met coke market will likely continue to experience regional price fluctuations, with prices in eastern India remaining on an upward trend. Meanwhile, western India may see prices staying stable. On the other hand, inquiries for imported met coke in India, may rise for end-December loadings, targeting January arrivals, as quantitative restrictions (QR) are set to expire after December.
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