Met coke offers from China have fallen by USD 2-3/MT W-o-W. However, indigenous Met coke prices remain stable.
Imported Chinese Met coke offers to India have fallen again this week due to low demand from Indian buyers.Thin trading in global Met coke market has led to continuous fall in met coke prices in a couple of months.
Currently, 64% CSR Met coke offers from China are assessed at USD 139-140/MT, which were USD 141-142/MT, CFR India in the preceding week. Meanwhile, 62% CSR offers fell by USD 2-3/MT to USD 137-138/MT, CFR India.
Domestic Met coke market
Domestic Met coke market is under pressure as indigenous coke prices have fallen by INR 500-1,000/MT M-o-M. After falling constantly from a couple of months, indigenous Met coke futures are stable from last two weeks.
Domestic Met coke prices (25-80 mm) are currently assessed at INR 12,500-13,000/MT, ex-plant; witnessing no change in a week.
A market participant predicted that there will be no change in domestic Met coke offers in coming weeks due to moderate demand among buyers.
However, an importer from India highlighted that Chinese Met coke offers may fall further as giants in the industry are lowering their prices.
It is to be noted that NINL, one of the prime producer of indigenous Met coke, has lowered its offers by INR 300/MT M-o-M.
According to circular dated 15 Oct’15, LAM coke is to be offered at INR 12,700/MT, ex-NINL (advance payment; exclusive of duties and taxes) with validity till 31 Oct’15.
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