The enthusiasm of Met Coke sellers in India after the imposition of the Anti Dumping Duty has dampened as demonetization kept buyers away from purchasing.
The Government of India has imposed Anti Dumping Duty on imports of the material from China and Australia at the respective rates of USD 25.20/MT and USD 16.29/MT for a five year period.
Sellers spoken to by CoalMint said that demand had turned sluggish as buyers did not have enough liquidity to purchase the material due to the demonetization.
Import offers also have remained almost stable at the rates assessed the week last. The latest import offer of the 64% CSR Met Coke is assessed at USD 359/MT CFR India; and that of the 62% CSR Met Coke at USD 355/MT CFR India.
Chinese sellers have quoted these offers at: USD 348/MT and USD 344/MT respectively on FoB China basis.
The sluggish market condition has restricted the Indian Met Coke producers from revising the prices upwards. The prices have been kept stable as lackluster demand prevailed in the country’s markets.
Currently, the ex-works prices of the Blast Furnace grade in the country are at: INR 23,000/MT (east coast) and INR 23,500-28,500/MT (west coast).
Source: Market Participants
In a recent trend, Indian buyers have started looking at importing from countries other than China and Australia after the imposition of the Anti Dumping Duty. Colombia is slowing becoming one of the favorite foreign markets for Indian buyers, as learnt.
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