Lack of vitality in Met coke global market has resulted in no improvement in prices. Domestic market has also remained under stress.
Imported Chinese Met coke offers to India have witnessed no improvement this week owing to sluggish demand and INR depreciation. Indian Met coke importers are holding their purchases and are showing very timid response in Met coke trading.
Current offer for 64% CSR Met coke from China is assessed at USD 141-142/MT, CFR India and 62% CSR at around USD 139-140/MT, CFR India.
Chinese 64% CSR Met coke is being offered at USD 141-142/MT, CFR East Coast of India; costing Indian buyers at around INR 11,000+/MT.
Indian importers are preferring 64% CSR Met coke over 62% CSR Met coke due to nominal difference of USD 1/MT.
“Due to huge competition by importers, small manufacturers are forced to close their coke plants and big players are also suffering loss on grounds of low demand from steel producers. There will be no price rise in near future”, said a market participant.
Grade-Met Coke
Prices- USD/MT CFR India (Average Monhly Prices)
Qty in MnT
Source- SteelMint
Domestic Met coke market
Domestic Met coke market is under pressure as indigenous coke prices crashed, witnessing a fall of INR 300-500/MT.
Domestic Met coke prices (25-80 mm) are assessed at INR 12,500-13,000/MT. Demand for indigenous Met coke has weakened considerably as Indian steel manufacturers choose procuring the material from overseas, prompted by declining prices in international market.
According to latest updates available with SteelMint, India imported about 0.1 MnT of Met coke in Sept’15 against 0.3 MnT in Aug’15, registering a decline of 64%.
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