India: Domestic met coke prices show mixed trends despite hike in import offers

• Weak demand, lower coking coal prices weigh on met coke
• First round of Chinese met coke price cuts come into effect

Indian blast furnace (BF)-grade metallurgical coke prices dropped slightly w-o-w in eastern India on 11 March 2026, owing to weaker trade activities and a continued drop in coking coal prices seen in the past two weeks. However, prices in western India remained stable w-o-w. This is despite an $11/t increase in Indonesian imported prices w-o-w.

As per BigMint’s assessment in eastern India, BF-grade coke (25-90 mm) prices fell by INR 600/t w-o-w to INR 35,000/t ex-Jajpur. Prices in western India remained supported at INR 31,000/t ex-Gandhidham.

Meanwhile, foundry-grade coke (+90 mm) prices were largely stable at INR 36,000/t ex-Rajkot, reflecting stable demand from the casting and foundry sector.

BigMint’s coking coal index, CNF Paradip, declined by $10/t w-o-w on 6 March 2026, amid cautious buyer sentiment and lower bids.

Factors driving met coke prices

Imported met coke prices rise in recent deals: BigMint assessed Indonesian-origin BF coke (65/63) at $285-290/t CFR India, up by $11/t w-o-w.

As of 11 March, one trade for Indonesian BF coke with 67/65 CSR was reported by an international steelmaker source at $245/t FOB Indonesia for a 50,000-t cargo, with end-April laycan. Separately, another deal for Indonesian BF coke with 62% minimum CSR was heard from an Asian coke producer source at $241/mt FOB Indonesia for two 30,000-t cargoes. The first cargo is scheduled for 15-20 April laycan, while the second cargo is expected to load roughly three weeks later. Market participants noted the cargo involved off-spec size material, and the deal was reportedly concluded after market close on 11 March, with the buyer remaining unconfirmed.

Chinese met coke price cuts come into effect: In line with last week’s indications, China’s coke market softened after several steel mills in Tianjin and Hebei initiated the first round of coke price cuts of RMB 50-55/t, following a similar reduction in domestic coking coal prices.

Indian pig iron prices inch down w-o-w: Downstream indicators in India also pointed to cautious buying sentiment. Steel-grade pig iron prices in Durgapur decreased by INR 300/t w-o-w to INR 37,700/t ex-works, according to BigMint’s assessments.