The Met Coke market in India has continued to sustain dull demand as buyers adopted a wait-and-watch stance in the prospect of the prices coming down to significant levels.
Import offers have, however, risen moderately, and that was due to the increasing shipping freight rates, and Coking Coal prices drifting upwards in Australia.
The latest offer for the 64% CSR Met Coke is assessed upwards at USD 275/MT CFR India. In a similar trend, the recent import offer for the 62% CSR Met Coke is also reported higher at USD 273/MT CFR India.
Source: CoalMint Research
Chinese sellers have quoted these offers at: USD 259/MT and USD 257/MT respectively on FoB basis.
Prices of Met Coke in India have remained unmoved as domestic producers had no reason to revise their ex-works prices in view of the weak demand prevailing in the country.
The current ex-works prices of the Blast Furnace grade in India are at: INR 21,500/MT (east coast) and INR 21,500-26,000/MT (west coast).
Source: CoalMint Research
Some market participants in India said that sellers in the country offered discounts to push up sales.
In the Dalian Commodity Exchange, Met Coke futures today settled higher at Yuan 1,999.5/MT than that on the last trading day, at Yuan 1,950/MT.
IMPORTS
During the 1-27 Feb’17 period, 265.86 ‘000MT of Met Coke was imported into India, according to data compiled by CoalMint Research.
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