Met Coke offers have continued to traverse on a rising path due to the mounting Coking Coal prices.
Pulled up by the escalating prices of the coal in the key international market, the current offer for the 64% CSR Met Coke has gone up by USD 12/MT, over the week-ago offer, to USD 303.50/MT FoB China; the ruling offer for the 62% CSR Met Coke also has moved up by USD 12/MT to USD 300/MT FoB China over the offer in the week last.
These offers amount to: USD 318.50/MT and USD 315/MT respectively on CFR India basis.
The up swinging international offers have created the likelihood of the Indian producers bracing themselves up for hiking their ex-works prices further.
One producer in the west coast of the country was heard to raise its ex-works price by INR 500/MT. Other producers are also expected to follow suit.
Demand for Met Coke was moderate due to the ongoing monsoon season, in which activity normally softens as a seasonal effect.
Source: CoalMint Research
The prevailing ex-works prices in India for the Blast Furnace grade are: INR 21,700/MT (east coast), and INR 22,500/MT, INR 26,000 and INR 28,000/MT (west coast).
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