Indian Met Coke Prices Stable W-o-W; Imports Decline on High Import Offers

Met Coke prices have remained stable at the rates prevailed last week. Market participants speculate the domestic prices to go up on account of rising Coking Coal prices.

Import offers also have not undergone any significant change from that in the last assessment. The latest import offer of the 64% CSR Met Coke is assessed at USD 261/MT CFR India; and that of the 62% CSR Met Coke at USD 256/MT CFR India.

The export offers of the Met Coke variants are at: USD 252/MT and USD 247/MT respectively on FoB China basis.

In India, active purchases are learnt to be going on that give a ground in addition to rising Coking Coal prices for the producers in the country to raise their ex-works prices in the near term.

The prevailing ex-works prices in India are at: INR 19,000/MT(east coast) and INR 24,500/MT(west coast).

Source: Market Participants

IMPORTS

As a consequence of high import offers, imports of the material had shrunk during Sep’16. During the month, 0.35 MnT was imported into India, according to data compiled by CoalMint Research. The import quantity was lower by around 32% than the imports duringAug’16, at 0.52 MnT, CoalMint Research shows.

Source: CoalMint Research

A region-wise segregation of the total imports during Sep’16 indicates that China accounted for the largest proportion, followed by Australia.

Source: CoalMint Research

The top importers during the month were: Essar Steel, Mukund, JSW Steel, Shyam Group, among others.