India’s metallurgical coke import prices continue to trend higher on firm buying interest coupled with limited availability of spot tonnages from Asian sellers.
CoalMint currently assesses the spot price for the 64% CSR grade Japanese blast furnace met coke at $427/t CNF India, up $8/t w-o-w.
The 62% CSR grade BF met coke is currently assessed at $420/t CNF India — also up by $8/t w-o-w.
A 20,000 t of Japanese origin met coke was heard concluded on Tuesday 26 Jan’21 at $440/t FOB Japan for February laycan, bound for India.
Indian market sources expect further appreciation in coke prices in the coming weeks—
India is presently seeing strong steel margins pulling up demand for coking coal and supporting met coke consumption to maximize steel production. Consequently, prices might move up even higher in February on tight supply.
Many buyers, however, stay clear of the market in anticipation of near-term price cuts, citing that import prices are long due for a correction.
Nevertheless, declining coke inventories and supply crunch will continue to support domestic coke prices in India, several market sources stated.
Coking coal prices continue to rise on active buying in ex-Chinese markets—
Seaborne coking coal prices have been gaining sharply since past two weeks following spot transactions concluded at higher levels.
Rising restocking demand and buyers’ concerns over potential supply disruptions during Australia’s cyclone season are key factors behind the recent rally in prices. Competitively priced Australian cargoes relative to Atlantic coals of similar grades is also going to support prices of coking coals.
India Coal Import Vessel Lineup—
CoalMint’s latest vessel lineup data (as on 25 Jan’21) reveals that an aggregate shipment volume of 135,709 t of imported met coke has arrived at different Indian ports in this month —
– 62,993 t at Haldia (West Bengal)
– 13,345 t at Paradip (Odisha)
– 59,371 t at Vizag (Andhra Pradesh)
These inbound met coke consignments have been sourced from different originating countries, viz. Colombia (97,737), Poland (17,972 t) and South Africa (20,000 t).
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By Aditya Sinha
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