Met Coke prices in India are falling as weak demand is prevailing, compelling the producers in the country to reduce their prices.
MET COKE OFFERS SLIDE FURTHER
International offers for Met Coke have continued to slide down due to falling Coking Coal prices. The latest offer for the 64% CSR Met Coke is reported lower by around USD 7/MT, at USD 290/MT CFR India, over the rate reported in the last week. The fresh offer for the 62% CSR Met Coke is reported at USD 284/MT CFR India, down by around USD 10/MT than the week-ago rate.
Source: CoalMint Research
Exporters have quoted these offers at: USD 279/MT and USD 273/MT respectively on FoB China basis.
INDIAN PRODUCERS SLASH PRICES
The prevalence of low demand in the country has constrained some of the Indian producers to reduce their ex-works prices. The producers have lowered their ex-works prices in the range of INR 1,500-2,000/MT due to the sluggish demand condition.
The demand in the country has turned lackluster as the buyers were waiting, postponing purchases, for the new taxation structure under the GST to come into effect. The GST Council has put coal in the lowest tax slab of 5%. The pre-GST tax incidence on coal has been higher at 11.69%.
The prevailing ex-works prices in India of the Blast Furnace grade are at: INR 21,500/MT (east coast) and INR 21,000/MT, INR 23,000/MT, INR 24,000/MT, INR 26,000/MT (west coast).
Source: CoalMint Research
IMPORTS
There has been no spurt in Met Coke imports in India, mainly due to the buyers holding back their purchases. Not many import consignments have landed at Indian ports during this month. During the 1-26May’17 period, around 0.28 MnT of Met Coke was imported in the country, data collected by CoalMint Research shows.
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