Indian Met Coke Prices Move Up on Rising Import Offers, Costlier Coking Coal

Met coke prices have swung upwards, pulled by rising Coking coal prices.

Coking coal prices have risen significantly in the key international market as supplies have gone tight and demand has soared. Met coke prices have followed the rising trend, exhibited by the Coking coal prices.

China, being import dependent in Coking coal, has hiked its offers of Met coke due to the coal variant becoming costlier in Australia, the key market for procuring Coking coal by both China and India.

The import offers of the 64% CSR Met coke are assessed considerably higher at USD 192/MT CFR India; and that of the 62% CSR Met coke are also assessed remarkably up at USD 189/MT CFR India.

The export offers of the Met coke variants are at: USD 181/MT and USD 178/MT respectively on FoB China basis.

In line with the rising import offers, most of the Indian producers also have raised their ex-works prices. The current ex-works prices of the Blast Furnace grade are: INR 14,500/MT(east coast) and INR 16,000-16,700/MT (west coast).

INDIAN MET COKE PRICES (UPPER RANGE) DURING THE LAST FOUR MONTHS

Prices in INR/MT

In the meantime, demand also has been strengthening, and with the monsoon season likely to start retreating by the second week of Sep’16, demand for Met coke will also strengthen thereafter.

IMPORTS

Met coke imports have been scanty due to the low demand prevailed in the country on account of the ongoing monsoon season. According to data compiled by SteelMint Research, 438,057 MT of Met coke was imported into the country during the 1-29 Aug’16 period.