Higher Coking coal prices and gradual strengthening of demand might trigger upward movement in Met coke prices in India in the near term.
The lull in demand due to the ongoing rainy season is likely to come to an end as demand is gradually picking up. Some market participants said that demand will strengthen to significant levels by the beginning of the next month.
Import offers have gone up significantly as Coking coal prices have swung upwards, resulting in Met coke offers going up considerably.
The latest export offers of the 64 CSR Met coke were assessed significantly higher at USD 189/MT FoB China, which translates into USD 198/MT on CFR India basis. Also, the recent export offers of the 62 CSR variant also were assessed considerably higher at USD 188/MT FoB China, which amounts to USD 197/MT CFR India.
Due to the rising prices of Coking coal, the upper range of ex-works prices in the east coast of the country has gone up by INR 100/MT; however, producers in the west coast have kept their ex-works prices unchanged.
Thus, the current ex-works prices of the Blast Furnace grade are at: INR 13,500-14,100/MT (east coast) and INR 15,000-15,500/MT (west coast).
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