Chinese metallurgical coke export prices continued dropping this week, as the global demand remained soft, and is currently at its lowest level in two months.
Notably, this sharp downfall came after offers for the steelmaking raw material peaked at around USD 374/MT FOB China near about a month ago.
In addition, China’s domestic coke prices have decelerated in the past few weeks, with purchasing mills squeezing the cost of the blast furnace fuel.
Reportedly, North China’s Hesteel Group has reduced its purchase price last week to RMB 2,270/MT for met coke with 65% coke strength after reaction (CSR) delivered to its facilities from 17 Jul’18 onward, down RMB 100/MT compared with its last price.
Source: CoalMint Research
On the pricing front, latest import offers for the 64% CSR met coke have plummeted to as low as USD 334/MT FOB China, down by about USD 10/MT than the rates that prevailed in the week gone by.
Similarly, offers for the 62% CSR met coke has decreased to around USD 323/MT FOB China.
For Indian buyers, these offers amount to USD 351/MT and USD 340/MT respectively on CNF basis.
Nevertheless, India’s domestically produced met coke prices have remained unchanged for the last two months.
The current ex-works prices of the blast furnace grade are hovering around INR 26,000/MT (east coast) and between INR 27,000 and 28,000/MT (west coast).
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