Met Coke prices in India have receded due to waning demand. Producers in the country have lowered prices to push sales in a lackluster environment.
Buyers in the country are waiting, postponing purchases, for the announcement of the next union budget, in which they expect the government to provide some sops to the industry. The common outlook among all the market participants is—the budget will provide impetus to the industry.
IMPORT OFFERS SINK
In the meantime, falling Coking Coal prices have dragged down the import offers. Of late, import offer for the 64% CSR Met Coke was assessed lower at USD 292/MT CFR India; and that for the 62% CSR material at USD 288/MT CFR India.
Sellers in China quoted these offers at: USD 281/MT and USD 277/MT respectively on FoB China basis.
Source: Market Participants
DOMESTIC PRICES DRIFT DOWN
Forced by the prevailing soft demand, Met Coke producers in India have brought down their prices; but there was a belief that the demand will strengthen post the government tabulating the new budget in the parliament.
The current ex-works prices in the country are at: INR 22,300/MT (east coast) and INR 21,000-28,000/MT(west coast).
Source: Market Participants
IMPORTS
During the 1-20 Jan’17, 80.94 ‘000MT of Met Coke was imported into India, according to CoalMint Research.
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