The Met Coke market in India has remained quiet as the demonetization restricted purchases among buyers. Moreover, the falling Coking Coal prices have created a speculation of Met Coke prices declining in the coming days.
Import offers have gone down than that in the last week as Coking Coal prices declined. The latest import offer of the 64% CSR Met Coke was assessed lower at USD 335/MT CFR India; and that of the 62% CSR Met Coke at USD 331/MT CFR India, lower than that in the week-ago assessment.
Chinese sellers have quoted these offers at: USD 324/MT and USD 320/MT respectively on FoB China basis.
The muted atmosphere in the Indian Met Coke market has restricted the domestic producers from raising their ex-works prices. However, a producer in the west coast was an exception as it had raised its ex-works price by INR 500/MT.
The prevailing ex-works prices of the Blast Furnace grade are at: INR 23,000/MT (east coast) and INR 23,500-29,000/MT (west coast).
Source: Market Participants
IMPORTS
Met Coke imports into India have shrunk as a result of the Anti Dumping Duty in place. During the 1-9Dec’16 period, 74,880 MT was imported into the country, data compiled by CoalMint Research shows.
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