Chinese traders have offered coke in the range of USD 111-113/MT FoB for different grades. Prices have stabilized during last two weeks due to good booking figures. Chinese sellers are firm on their offers.
Indian dealers indicated persevering enthusiasm for Met coke purchasing this week. Prices were steady after a long time. In some instance, it was heard that buyers hold their purchasing, hoping to get rebate on prices. However, Chinese sellers were firm at their offer.
According to SteelMint’s assessment, 64% CSR grade Met coke offers from China are costing at USD 121-122/MT, CFR India. Also, 62% CSR offers are assessed at USD 120-121/MT, CFR India. Alike 64% CSR grade, 62% CSR grade Met coke offers remained static on weekly estimation for Panamax vessel.
Lower coke production, losses to coke broiler, spurt in domestic Chinese interest for material combined with expanded steel and ferro amalgams generation in India induced price rise of Met coke in recent time.
An Indian importer told SteelMint, ”Chinese domestic business sector is seeing sudden increment. Steel billet prices expanded considerably and still on upper side, inciting coke price to grow.” He predicted further price rise in coming weeks.
However, domestic Met coke prices in India fell by INR 300-500/MT. Right now, domestic Met coke offers are surveyed at INR 11,300-12,000/MT for 25-80 mm BF grade Met coke.
Met Coke Imports to India & Exports from China
SteelMint surveyed that India, one of the significant buyer of Chinese Met coke, imported total about 0.34 MnT of material in Feb’16. Chinese Met coke dominated the imports, the country represented about 28% of the aggregate Met coke import in the month.
Qty in MnT
Source:
India Imports- SteelMint Stats
China Export- Chinese Custom
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