Indian steel makers are getting Chinese coke at USD 186/MT. Prices up by approx USD 18/MT. Japanese and Australian material considered premium over Chinese material accessible at USD 206/MT and USD 198/MT CFR India.
Chinese Met coke in the all inclusive markets continued with their uptrend this week, as buyers chase down available cargoes amidst higher domestic demand in China and tightened supply.
SteelMint assessed that cargoes of 64% CSR grade Met coke from China are costing at USD 186-187/MT, CFR India. Additionally, 62% CSR offers are assessed at USD 185-186/MT, CFR India. Alike 64% CSR grade, 62% CSR grade Met coke offers have expanded by USD 18-19/MT in a week’s opportunity for Panamax vessel.
[su_quote]SteelMint learned from a Indian shipper,”Although, prices are high, still no cargoes for coke will be accessible before mid June for stacking due to lower stock. He further said that June cargoes are available at USD 190/MT, CFR India. “[/su_quote]
Scarcity of Chinese met coke have compelled Indian importers to look for other options. Presently Japanese and Aussie’s met coke trade is picking up. Japanese steel making coke is available at USD 205/MT CFR India. Whereas, Australian Met coke is available at USD 198/MT CFR India.
Domestic market redesigns
Prices of local material developed by INR 1,000-2,000/MT for various area, contingent on quantity and conveyance terms. Residential Met coke offers climbed for the current week, subsequent to battling for 2-3 months. Prices have surged by INR 500-1,000/MT with the initiation of the month.
SteelMint evaluated that presently, prices are explored at INR 14,000/MT (ex-plant+duties) for 25-80 mm BF grade Met coke in the eastern region. Whereas, it was recorded at INR 15,000/MT (ex-plant+duties) for west and south.
[su_quote]A residential maker advised to SteelMint, “Domestic Met coke prices have risen attributable to rising imported coking coal and Met coke will continue to rise further.”[/su_quote]
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