- Indian pig iron market holds firm
- Firm coking coal tags lend support
The Indian metallurgical coke (met coke) market remained stable during the week ending 14 August 2025. In eastern India, BF-grade (25-90 mm) met coke was assessed at INR 29,000/tonne (t) ex-Jajpur, while in western India, prices held at INR 30,000/t exw-Gandhidham.
Tight domestic supply and delays in import arrivals, coupled with firm coking coal prices, provided support. Australian coking coal prices increased by $2/t w-o-w to $185/t.
Chinese market trends provide external support
In the international market, China registered its sixth consecutive met coke price increase since mid-July, in the range of RMB 50-55/t. The rally was underpinned by elevated coking coal costs, active restocking by steel mills, and production restrictions. However, resistance from steelmakers emerged amid narrowing margins. Blast furnace capacity utilisation was at 74.85%, and coke inventories were down 8.18% w-o-w.
Pig iron market remains firm
NMDC’s Nagarnar steel plant in Chhattisgarh successfully auctioned its entire offered volume of 32,000 t of steel-grade pig iron on 13 August at an average price of INR 30,800/t (rake delivery). In the broader market, steel-grade pig iron prices in Durgapur increased marginally by INR 50/t w-o-w to INR 32,750/t, supported by improving downstream steel demand.
Outlook
Met coke prices in India are expected to remain supported in the short term, driven by firm coking coal costs, constrained supply, and continued import delays. Developments in China’s coke market may exert additional upward influence. However, potential pressure on steelmaker margins and any further decline in steel prices could limit price gains and temper buying interest.
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