Current Chinese Met coke offers are within USD 126-127/MT, CFR India. Market participants predict further fall in prices. While, domestic Met coke prices remained stable amidst low demand.
Met coke futures are decreasing continuously due to subdued demand and oversupply from Chinese sellers. Aggressive selling from China has endowed Indian buyers with bargaining power. As a result, met coke prices have moved down to record low.
Currently, 64% CSR Met coke offers from China are hovering in the range of USD 127-128 /MT, CFR India against USD 132-133/MT, CFR India in the preceding week. Whereas, 62% CSR Met coke prices are assessed at USD 125-126/MT. Alongside, Chinese Met coke prices have plunged down by USD 5-6/MT in a week’s time.
An Indian importer told to SteelMint,”Currently, coking coal are costing more than Met coke and it seems that Met coke prices will edge lower to USD 120/MT in coming January.”
On the contrary, domestic Met coke prices are comparatively in better condition amidst turmoil in global market, following continuous fall in prices. Currently, domestic met coke prices (25-80 mm) are assessed at INR 12,000-12,500/MT, ex-plant; witnessing a marginal drop of INR 500/MT.
An official from one of the prime Indian Met coke manufacturing company reported to SteelMint, ”Although, imported Met coke prices are going down,indigenous Met coke prices are witnessing marginal decline because of no decrement in production cost.”
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