Chinese Met coke offers are reinforcing from last 1-month prices. Offers inched up by USD 1-2/MT this week. Currently, domestic prices in China are better than the export price.
Developing interest, visibly in the Chinese steel industry has surged up Chinese Met coke trade price in latest two weeks. Export prices grew up by USD 1-2/MT again this week for 64% CSR material, alike a week ago.
As per SteelMint’s evaluation, 64% CSR grade Met coke offers from China are costing at USD 141-142 /MT, CFR India. Besides, 62% CSR offers are evaluated at USD 139-140/MT, CFR India. Unlike 64% CSR grade, 62% CSR grade Met coke offers crept up by USD 4-5/MT in a week’s time for Panamax vessel.
An Indian importer told to SteelMint, “No cargo for coke will be accessible before June for stacking due to lower stock, great local coke request in China, price rise and less freight accessible. Met coke prices will be around USD 148-150/MT CFR in next 10 days. Subsequently, require proactive activity from purchasers and it would be better to arrange booking now”.
According to SteelMint’s analysis, the total Met coke imported by the country assessed at about 0.08 MnT in Mar’16. The quantity lessened by 76% M-o-M and import from China fell by 96% in a month’s time. Unlike always, Russian Met coke dominated imports and available in the range of USD 140-150/MT CFR India, depending upon quantity, quality and landed port in India.
Domestic market updates
Domestic prices grew by INR 500-1,000/MT for different region, depending upon quantity and delivery terms. Domestic Met coke offers moved up this week, after struggling for 2-3 months. Prices have surged by INR 500-1,000/MT again this week.
SteelMint assessed that indigenous Met coke offers strengthened after falling for a couple of months. Currently, prices are reviewed at INR 12,500-13,000/MT (ex-plant+duties) for 25-80 mm BF grade Met coke.
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