Chinese metallurgical coke export offers have been ruling strong since the start of the month due to low inventory and healthy demand for domestic coke.
China’s, domestic met coke prices have risen by RMB 300/MT in total since the Golden Week — the 7-day national holiday celebrated in China, which begins on October 1st every year to commemorate the founding of People’s Republic of China.
Although most Chinese domestic steel mills have accepted the third round of price uptick of RMB 100/MT, however, it is difficult to raise prices further due to the declining profit margin of end-users.
Accordingly, buyer sources are said to adopt a wait-and-see attitude as Chinese coke prices remain firm.
PRICE ASSESSMENTS
The latest import offers for the 64% CSR met coke are assessed at around USD 391/MT FOB China, higher by about USD 3.75/MT than the average price of USD 387.25/MT in the week gone by (5-9 Nov’18).
Similarly, offers for the 62% CSR met coke have increased to around USD 383/MT FOB China.
For Indian buyers, these offers amount to USD 409/MT and USD 401/MT respectively on CNF India basis.
In India, the current ex-works prices of the blast furnace grade are assessed at around INR 29,000/MT (east coast) and between INR 28,000 and 29,000/MT (west coast).
Source: CoalMint Research
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