In conformity with the analysis by CoalMint the week last, Met coke prices in India have risen further, primarily driven by the up-swinging Coking coal prices.
DEMAND REVIVES IN INDIAN MARKET
Demand for Met coke has stated strengthening in the country, and at the same time, prices have come under the influence of rising Coking coal prices.
As a consequence of the steadily rising Coking coal prices, Met coke producers have raised their ex-works prices.
The latest prices of the Blast Furnace grade are: INR 17,000/MT(east coast) and INR 17,500-18,000.MT(west coast).
Source: Market Participants
IMPORT OFFERS RISE FURTHER
Understandably, costlier Coking coal has triggered upward traversals in Met coke import offers. The latest offers of the 64% CSR Met coke were reported significantly higher at USD 248/MT CFR India. The recently reported import offers of the 62% CSR Met coke were also considerably up at USD 247/MT CFR India.
Chinese suppliers have quoted these export offers at: USD 237/MT FoB and USD 236/MT FoB respectively.
In addition to the up-swinging Coking coal prices, supply constraints in China also have fueled the rise in Met coke offers. In China, demand for the material is robust due to the steel companies there running at high operating rates.
IMPORTS
During the 1-5 Sep’16 period, 26,100 MT of the material had landed at Indian ports, according to the data compiled by CoalMint Research.
MARKET OUTLOOK
A tentative forecast on the Met coke market reveals that the prices in the country are likely to go up further in the coming days.
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