Met Coke import offers have continued to traverse upwards, primarily due to rising Coking Coal prices. As a result, prices in India also have followed the trend.
The latest import offer of the 64% CSR Met Coke is assessed higher at USD 305.50/MT CFR India. In a similar trend, the latest import offer of the 62% CSR Met Coke is also assessed upwards at USD 301.50/MT CFR India.
Chinese exporters have quoted these offers at: USD 294/MT and USD 290/MT respectively on FoB China basis.
As a sequel to the rising offers, Indian producers also have raised their ex-works prices. The latest ex-works prices of the Blast Furnace grade in India are: INR 26,500/MT(west coast) and INR 20,500/MT(east coast).
Demand was moderate, with buyers expected further rise in the prices, in view of the rising trend exhibited by Coking Coal prices.
Coking Coal prices are expected to go up further as supply in Australia tightened again, after suspension of mining operations at the Appin mine in New South Wales. Readers could refer to the article: Australian Coking Coal Production Confronts Fresh Hurdle: Prices to Rise Further for the complete coverage.
Source: Market Participants
INDIAN STEEL INDUSTRY OPPOSES ANTI DUMPING DUTY ON MET COKE
While, there was an aura of optimism among Met Coke consumers in India over the imminent imposition of Anti Dumping Duty on Met Coke imports into the country from China and Australia; Indian steel makers were however unhappy as the duty will also include Low Ash Met Coke, which is not manufactured by Indian Met Coke producers. In a petition to the Prime Minister Office, the Indian Steel Association said that the duty will raise prices of finished steel products in the country by INR 750-1,500/MT as Met Coke accounts for 40-50% of the cost of steel production.
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