Domestic met coke prices remained largely rangebound w-o-w. As per BigMint’s assessment, 25-90 mm blast furnace (BF) grade coke prices stood at INR 34,300/tonne (t) exw-Jajpur, while Gandhidham’s tags were recorded at INR 32,300/t exw.
Market participants reported improved trades this week which has supported prices.
Factors behind price stability
India initiates anti-dumping investigation into coke imports – India’s Directorate General of Trade Remedies (DGTR) has launched an inquiry into met coke imports from key supplying nations, including Australia, China, Colombia, Indonesia, Japan and Russia, following complaints from domestic producers about price undercutting and market distortions. BigMint received a copy of the circular dated 29 March, 2025.
Chinese coke-makers test market with cautious price hikes – Several Chinese met coke producers tested the market with modest price hikes of RMB 20-30 from 1 April, following 11 rounds of price cuts totalLing RMB 550-605/t. While demand and costs show signs of recovery, cautious sentiment persists. Steelmakers are resisting price increases, and the market is awaiting stronger demand signals for a sustained rebound.
Australian coking coal prices remain stable w-o-w: Australian premium hard coking coal (PHCC) was assessed at $169/t FOB, stable w-o-w. The market seems to be waiting for the next round of trades to gauge price direction.
Indian pig iron tags inch up w-o-w: Steel-grade pig iron prices in Durgapur, India, rose marginally by INR 50/t w-o-w to INR 36,250/t exw. Market sentiments improved with active export deals last week and rising steel prices.
Outlook
The market is likely to remain stable next week; however, price support from steel may lend some room for raw material price hikes. Also, domestic met coke supplies are likely to increase as players ramp up output in the absence of imports.
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