The Met Coke market in India has witnessed sliding domestic offers, falling import offers in a lackluster demand environment.
Buyers have almost stopped purchases as they waited for Coking Coal prices to fall further that will also pull down Met Coke prices.
Understandably, import offers have continued to move downwards as prices of Coking Coal went down successively owing to increased production.
The latest import offer for the 64% CSR Met Coke is reported lower at USD 266-267.50/MT CFR India; and that for the 62% CSR Met Coke down at USD 263-264/MT CFR India.
Source: CoalMint Research
These offers translate into: USD 256.50/MT and USD 253/MT respectively on FoB China basis.
As buyers in India have postponed purchases in the prospect of Met Coke prices going down further, producers in the country were subjected to uncertainty as to when their sales will gather momentum. Some market participants expect that domestic sales might start picking up by the beginning of Mar’17.
In response to the sluggish demand, domestic producers in the country have reduced their ex-works prices in the range of INR 1,000-2,000/MT.
In the country, the prevailing ex-works prices are at: INR 20,500/MT (east coast) and INR 21,500-26,000/MT (west coast).
Source: CoalMint Research
IMPORTS
Met Coke imports into India also have gone lower due to the wait-and-watch stance adopted by the country’s buyers. According to CoalMint Research, 211,910 MT of Met Coke was imported into the country during the 1-17 Feb’17 period.
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