Met Coke prices have remained almost at the rates the week last, except few exceptions. The prices have remained at highs on account of rising Coking Coal prices in the key international markets.
Notably, there is a growing expectation of Anti Dumping Duty to be soon imposed by the Government of India on imports of Met Coke from China. Information obtained from highly placed sources indicate that there is a strong likelihood of imposition of the duty in the coming days.
IMPORT OFFERS DRIFT SLIGHTLY LOWER
The latest import offers of Met Coke were assessed slightly lower than that in the previous week. The 64% CSR Met Coke has been offered at USD 254/MT CFR India; while, the 62% CSR material has been offered at USD 253/MT CFR India, according to a reputed importer.
The export offers of the Met Coke variants are at: USD 245/MT and USD 244/MT respectively on FoB China basis.
DOMESTIC PRICES STAY ALMOST STEADY
Domestic prices have not undergone any remarkable change from that in the week last, other than a producer in the west coast raising its ex-works price by INR 1,000/MT. The prices have remained high primarily due to the rising Coking Coal prices in the international markets.
Producers in the country seem to have restricted themselves from hiking their prices as import offers have drifted downwards slightly, although demand was strong.
The ruling ex-works prices of the Blast Furnace grade are at: INR 20,000-21,000/MT (west coast) and INR 19,000/MT (east cost).
Source: Market Participants
However, some market participants speculate that the prices in the country will go up further in the coming weeks.
In the meantime, demand continues to be strong in the country as steel production is going on at high rates.
IMPORTS
Imports have been losing steam as the high import offers restricted the buyers in the country from excessive procurement. During the 1-22 Sep’16 period, 268.42 ‘000MT of Met Coke was imported into the country, CoalMint Research shows.
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