Met Coke prices in India have surged as a consequence of rising Coking Coal prices and strengthening demand in the country.
Of late, Coking Coal prices have increased sharply after the Debbie cyclone hitting the Queensland region of Australia, damaging the rail infrastructure, restricting coal movements from mines to ports. According to the latest information received, spot price of the Premium HCC has risen to USD 182.50/MT FoB Australia.
INTERNATIONAL OFFERS GO UP
International Met Coke offers have gone up due to the spiking Coking Coal prices. The latest offer for the 64% CSR Met Coke is reported at USD 300/MT CFR India, higher by around USD 9/MT than the week-ago rate.
The recent offer for the 62% CSR Met Coke is also reported higher at USD 296.50/MT CFR India, which is up by around USD 8.5/MT over the rate assessed the week last.
Source: CoalMint Research
DEMAND PREVAILS STRONG
In India, strong demand for Met Coke has prevailed as the Blast Furnaces are operating at high rates. Demand is expected to remain strong in the country in the coming days.
DOMESTIC PRICES MOVE UP
Indian Met Coke producers have raised their ex-works prices in response to the stronger demand and rising Coking Coal prices due to the export disruption caused by the recent Debbie cyclone. The prices were raised within INR 1,500-2,000/MT.
The current ex-works prices of the Blast Furnace grade in India are: INR 23,500/MT (east coast) and INR 23,500-28,500/MT(west coast).
Source: CoalMint Research
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