Met Coke prices in India have retreated mainly due to the dull demand prevailing in the country.
Import offers also have continued to sink, being pulled down by the declining Coking Coal prices. The latest import offer for the 64% CSR Met Coke is assessed lower at USD 292/MT CFR India. At the same time, the recent import offer for the 62% CSR Met Coke is also reported down at USD 289/MT CFR India.
On FoB China basis, these offers are valued at: USD 281/MT and USD 278/MT respectively.
In response to the tepid demand, some of the Indian producers have lowered their ex-works prices. In the east coast, a producer have reduced its price by INR 200/MT and a producer in the west coast have brought down its ex-works price by INR 1,000/MT.
The ruling ex-works prices in the country are: INR 22,800/MT (east coast) and INR 22,500-29,000/MT(west coast).
In the coming days, more producers in the country are expected to revise downwards their prices in response to the lackluster demand and falling Coking Coal prices.
Source: Market Participants
IMPORTS
Imports have gone down remarkably due to the Anti Dumping Duty in place. During the first two weeks of Jan’17, only 39.27 ‘000MT of Met Coke was imported into the country, data collected by CoalMint Research shows.
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