- Prices rise by INR 500/t w-o-w in Jajpur
- Chinese met coke prices remain stable
India’s metallurgical coke (met coke) market showed mixed trends w-o-w across major trading hubs. Market sentiment was cautious, and transaction volumes were limited.
Import activity was also restrained, as most market participants had expected the government to extend quantitative restrictions (QRs) on imports.
Domestic met coke prices see mild fluctuations
As of 9 July, BigMint assessed 25-90 mm blast furnace (BF) grade met coke prices at INR 28,500/tonne (t) ex-Jajpur, marking a slight increase of INR 500/t w-o-w. In western India’s Gandhidham, prices were unchanged at INR 29,000/t exw.
Market participants reported subdued trade volumes, with deals mostly limited to small quantities and no aggressive buying or selling noted.
Imported met coke trade activities remain slow
Market sources indicated that fresh met coke import bookings remained limited. News on the renewal and allotment of company-wise specific quotas is expected by next week, following which import bookings are expected to resume.
Steel prices see minor adjustments
In the downstream steel sector, minor price movements were observed. Steel-grade pig iron prices in Durgapur were assessed at INR 32,300/t, reflecting a marginal increase of INR 100/t d-o-d.
Chinese met coke prices remain firm
Internationally, the Chinese met coke market stabilised, supported by rising coking coal costs and moderate steel demand. Production remained under pressure due to narrowing margins and environmental constraints, while improved procurement by mills and traders reduced coke inventories. Although sentiment turned more optimistic, any significant price rally remains unlikely amid fragile steel market conditions and gradually recovering coal supply.
Australian PHCC drop w-o-w
Meanwhile, Australian premium hard coking coal (PHCC) prices recorded a marginal week-on-week decline of $5/t, reaching $178/t FOB. Despite earlier upward movement, market sentiment remained subdued, reflecting continued global uncertainty in raw material dynamics.
Outlook
With domestic prices holding steady and import curbs in place, India’s met coke market is expected to remain balanced in the short term. Market direction will largely depend on demand from the steel sector, further regulatory developments, and international coal and coke pricing trends.
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