After witnessing continuous downfall from couple of months, indigenous met coke futures are now stable. However, imported material prices are still struggling.
Currently, domestic Met coke futures are stable amid timid trade response from buyers due to festive observance in India last week. Domestic Met coke prices (25-80 mm) are currently assessed at INR 12,500-13,000/MT, ex-plant; witnessing no change this week.
A Gujarat based trader reported, Foundry grade lump (100-150mm) is being offered at INR 19,500/MT, FoR Rajkot.
A market participant said, “Domestic Met coke market is relatively inactive due to festive celebration and prices may slip further in coming weeks.”
NINL, one of the prime indigenous Met coke producers, has lowered its offers by INR 200/MT M-o-M. Currently, the company is offering LAM coke at INR 12,500/MT, ex-NINL (advance payment; exclusive of duties and taxes) with validity till 30 Nov’15.
Imported Met coke market
Chinese Met coke prices are declining consecutively from couple of weeks in global market. Moreover, the condition is also bearish in Chinese domestic market.
Sluggish demand from Indian buyers has again plunged down imported Met coke prices further by USD 2-3/MT this week.
Currently, 64% CSR Met coke offers from China are hovering in the range of USD 132-133/MT, CFR India against USD 134-135/MT in the preceding week.
An Indian importer told SteelMint, ” 64% CSR Met coke from China for 45,000 MT vessel is available at USD 133/MT CFR India.”
He also mentioned that Chinese Met coke prices are falling continuously and if current scenario continues, the only way for survival of Chinese coke companies will be to compromise with the quality to make profit.
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