Met Coke offers from the key international market have gone up in response to the surging Coking Coal prices.
Of late, the offer for the 64% Met Coke has gone up to around USD 282.50/MT FoB China, a rise of around USD 6.5/MT over the week-ago offer. Similarly, the latest offer for the 62% CSR Met Coke also has moved up by around USD 6/MT to around USD 273/MT FoB China in comparison with the offer the week last.
Source: CoalMint Research
For Indian buyers, these offers amount to: USD 294.50/MT and USD 291/MT respectively on CFR India basis.
The rising offers, as consequence of up swinging Coking Coal prices, have promoted the domestic Met Coke producers in India to raise their ex-works prices. Producers in the east as well as west coasts of the country have hiked their ex-works prices in the range of INR 500-1,000/MT.
In the meantime, demand in the country is at moderate levels.
The current ex-works prices in India of the Blast Furnace grade are: INR 21,700/MT(east coast) and INR 22,000/MT, INR 25,000/MT and INR 26,500/MT(west coast).
There is also possibility of the domestic producers further raising their ex-works prices in the coming days.
IMPORTS
There has been no major surge in the imports of Met Coke in India as buying did not gain momentum. According to data compiled by CoalMint Research, only 71,250 MT of Met Coke was imported in India during the 1-14July’17 period.
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