Indian Met Coke prices underwent no change from that in the week last. Demand stayed low as buyers did not have enough liquidity due to the demonetization.
Import offers have gone down than that in the previous week as Coking Coal prices moved down. The latest import offer for the 64% CSR Met Coke was assessed lower at USD 323/MT CFR India. Similarly, the recent import offer for the 62% CSR Met Coke was also assessed down at USD 318/MT CFR India.
Exporters have quoted these offers at: USD 310/MT and USD 305/MT respectively on FoB China basis.
In the meantime, a Met Coke offer from Japan was learnt to be at USD 285/MT FoB in a communication with a reputed importer.
As a consequence of the prevailing low demand in the country, Indian producers have restricted from incorporating any price revision, thus the prices remained unmoved.
The prevailing ex-works prices of the Blast Furnace grade are at: INR 23,000/MT (east coast) and INR 23,500-29,000/MT (west coast).
Source: Market Participants
IMPORTS
Affinity for Met Coke imports has gone down after the imposition of Anti Dumping Duty. According to the data compiled by CoalMint Research, only 174.95 ‘000MT was imported into the country during the 1-19Dec’16 period.
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