Uncertainty over Met coke price movements has prompted the majority of end-users in India to postpone bulk purchases, resulting in demand remaining low.
Domestic producers have thus kept their ex-works prices unchanged. Prices of the Blast Furnace grade of Met coke have remained at INR 15,000/MT (ex-works, West Coast) and INR 14,500-15,000/MT (ex-works, East Coast).
Declining import offers from China have created the speculation among Indian buyers of possible price decrements in the near future. They have minimized their purchases due to obvious reasons.
According to a reputed importer, import offers of the 64% CSR Met coke from China have gone down to around USD 184/MT CFR India; and, offers of the 62% CSR variant from China have dipped to around USD 181/MT CFR India.
As a matter of fact, the Indian market is dominated by imports from China. Most buyers prefer Chinese Met coke over the domestic material as prices of China-origin Met coke are lower.
IMPORTS
During May’16, 153,400 MT of Met coke was imported into the country, upto the 11th of the month, according to SteelMint Research.
China was the most preferred region of import, SteelMint Research also shows.
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