In line with the upward Coking Coal price trend, Met Coke prices in India also have drifted further upwards, constraining buyers in the country to act cautiously in their purchases.
IMPORT OFFERS GO FURTHER UP
Driven by the rising Coking Coal prices, import offers of Met Coke have gone up further. The latest import offers of the 64% CSR Met Coke were assessed upwards at USD 258/MT CFR India. In a similar pattern, the recent import offers of the 62% variant also underwent upward traversal to USD 256/MT CFR India.
The export offers of the Met Coke variants were at: USD 248/MT and USD 246/MT respectively on FoB China basis.
DOMESTIC PRICES FOLLOW TREND
As fallout of the rising Coking Coal prices and higher import offers, domestic Met Coke prices in India have risen further.
The ruling prices of the Blast Furnace grade are: INR 19,000-21,000/MT (west coast) and INR 19,000/MT (east coast).
Source: Market Participants
Some buyers, spoken to by CoalMint, revealed that they procured the material on need-basis due to the higher prices of the material.
IMPORTS
Despite active consumption in the country, there has been no mass influx of imports as most of the buyers had already stocked the imported material. During the first 16 days of Sep’16, 158.6 TMT of Met Coke had landed at Indian ports, according to data compiled by CoalMint Research.
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