Seaborne metallurgical coke prices remain stable starting April. Prices have seen a continuous downfall of around USD 38/MT, FOB China throughout March due to less demand.
Met coke material for 64% CSR and the 62% CSR grades are currently assessed at around USD 323/MT and USD 306/MT FOB China respectively, remains stable from the rates that prevailed in the last week (08 Apr-14 Apr’19). Recently, the most tradable value was placed for 65%/64% coke at USD 313/MT, FOB China.
Since mid- March, Chinese coke producers have been incurring losses of around USD 7-11/MT, they were unlikely to cut outputs by extending their coking time due to potential downstream. And, as the prices were uncertain, coke buyers were also reluctant to take strong positions in the market.
Currently, as the prices are stable, market participants’ remains cautiously optimistic. According to the few market participants, “Seaborne coking coal prices will get a boost with the recent optimism in the coke market”. While calls have emerged among coke producers in China for prices for the steelmaking raw material to be raised by USD 15/MT this week, however, they have yet to gain traction.
Few market participants also shared that “Steel manufacturers still have a lot of coke inventory. It is likely that if the prices will move up, they may not likely be realized this week. Perhaps, they are still looking forward to prices to make up later this month.
Additionally, Indian met coke import prices are also stable and currently hovering at around USD 336.5/MT for 64% CSR and the 62% CSR grades prices are at around USD 321.5/MT on CNF India basis.
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