Domestic Met coke prices have remained unmoved from that in the last week.
IMPORT OFFERS ASSESSED HIGHER
Import offers of Met coke have risen this week, primarily due to coking coal prices moving upwards.
According to a reputed importer, the latest import offers of the 64% CSR Met coke have gone up to around USD 159/MT FoB China; and that of the 62% CSR Met coke have moved up to around USD 156/MT FoB China.
For Indian buyers, these import offers amount to: USD 167/MT CFR India and USD 164/MT CFR India respectively.
DOMESTIC PRODUCERS RETAIN EX-WORKS PRICES
Low demand seems to have restricted the domestic producers from revising their ex-works prices upwards. Domestic prices have been kept stable at the rates revised last.
The prevailing ex-works prices of the Blast Furnace grade of Met coke are at: INR 14,000-14,650/MT (east coast) and INR 15,000-15,500/MT (west coast).
Recently, Neelachal Ispat Nigam Limited (NINL) has rolled over its ex-works price for Met coke at INR 14,000/MT.
In China, Met coke futures have risen to Yuan 950/MT on account of bullish sentiments.
IMPORTS
During Jun’16, Met coke imports into India were at 0.35 MnT, which was slightly higher than that in May’16 at 0.34 MnT.
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