Met Coke offers have continued exhibiting a rising trend, being influenced by the up-swinging Coking Coal prices.
The latest offer for 64% CSR Met Coke is assessed higher over the offer in the week last by around USD 6.5/MT, at around USD 310/MR FoB China; while, that for the 62% CSR Met Coke is also assessed higher by around USD 6.5/MT, at around USD 306.50/MT FoB China, over the week-ago offer.
Source: CoalMint Research
For Indian buyers, these offers amount to: USD 325/MT CFR India and USD 321.50/MT CFR India respectively.
The constant rise in the offers was fueled by the strong consumption by the steel industry in China. As prices of Coking Coal were rising, most steel producers seem to have preferred purchasing Met Coke to meet their production requirements.
In India, the likelihood for the domestic Met Coke prices to go up further is becoming clear, apparently due to the twin impact of rising Coking Coal prices and the strong demand in the country. As fallout of steel plants running at high rates in India, strong demand for Met Coke is prevailing in the country.
Although, the domestic Met Coke producers seem to be considering raising their ex-works prices in the near future, one producer in the west coast was learnt to have hiked its ex-works price by INR 500/MT.
In India, the prevailing ex-works prices for the Blast Furnace grade are: INR 21,700/MT (east coast), and INR 22,500/MT, INR 26,500 and INR 28,000/MT (west coast).
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