The Met Coke market in India has remained without much activity as buyers are waiting for the market dynamics to become clear after the implementation of the Goods and Services Tax (GST) norms with the onset of July.
Buyers are expecting the prices to come down as the GST rate for Coal has been set at the lowest rate of 5%.
Some Met Coke sellers told CoalMint that buyers were waiting for the domestic buyers to revise their ex-works prices downwards, post the implementation of GST.
Domestic producers have not yet lowered their ex-works prices. however, they are expected to reduce prices with the onset of July.
The ruling ex-works prices in India of the Blast Furnace grade are at: INR 21,500/MT (east coast) and INR 21,000/MT, INR 23,000/MT, INR 24,000/MT, INR 25,500/MT (west coast).
The latest offer for the 64% CSR Met Coke is assessed at USD 255/MT FoB China. And, the recent offer for the 62% CSR Met Coke is also assessed at USD 252/MT FoB China.
For Indian buyers, these offers translates into – USD 266/MT and USD 263/MT respectively, on CFR India basis.
Source: CoalMint Research
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