India: Met coke prices edge higher w-o-w; market conditions remain mixed

• Prices in west India remain steady w-o-w
• Steel market optimism supports price uptick

India’s metallurgical coke (met coke) market displayed mixed momentum during the week ending 9 October 2025. Prices in eastern India firmed slightly, while western offers remained stable amid limited trade activity.

Mild uptrend in domestic prices

In eastern India, BF-grade (25-90 mm) met coke was assessed at INR 29,900/t ex-Jajpur, marking a rise of INR 400/t w-o-w. Market participants reported a deal of around 5,000 t at INR 30,500/t ex-Jajpur.

The uptick was attributed to expectations of improved steel demand following the festive season, ongoing anti-dumping discussions on imported met coke, and wet weather disruptions in Australia, which constrained coking coal shipments.

Meanwhile, in western India, prices remained unchanged at INR 30,000/t exw-Gandhidham, reflecting subdued buying interest and slower offtake from local foundries. Foundry-grade met coke also maintained stability at INR 35,600/t ex-Rajkot.

On the global front, Australian premium hard coking coal prices held firm at $190/t FOB, providing a steady raw material cost base for Indian coke producers.

Pig iron demand weakens slightly

Domestic pig iron prices inched down amid sluggish demand from foundries and secondary steelmakers. Pig iron prices stood at INR 31,950/t ex-Durgapur, reflecting a drop of INR 350/t w-o-w.

On the supply front, SAIL-Bokaro conducted a 6,000-t pig iron auction, but only 1,200 t were booked at the base price of INR 32,000/t ex-works, indicating cautious buying. Similarly, SAIL-Rourkela Steel Plant auctioned 3,200 t of steel-grade pig iron on 8 October, with the entire quantity booked at INR 32,350/t ex-works, down INR 250/t from the previous auction on 20 September.

Outlook

With the steel market expected to strengthen after the festive slowdown, met coke prices are likely to remain firm in the near term, supported by steady raw material costs and limited import alternatives. However, the pace of demand recovery from foundries will remain a key determinant for sustained gains.