Indian Steelmakers Struggle to Get Chinese Coke Despite Paying High Price

Chinese coke export price has increased considerably in last 2 months. The rally is still in continuation, although pace has slowed down.

Chinese Met coke offers in the comprehensive markets proceeded with their uptrend again this week, as Indian steelmakers pursue down cargoes accessible if any, in the midst of higher domestic Chinese interest and strict supply.

SteelMint surveyed that unblend cargoes of 64% CSR grade Met coke from China are costing at USD 190-191/MT, CFR India. Moreover, 62% CSR offers are surveyed at USD 189-190/MT, CFR India for unblend cargoes. Alike 64% CSR grade, 62% CSR grade Met coke offers have extended by USD 3-4/MT in a week’s chance for Panamax vessel.

Chinese coke prices surged up by USD 40/MT in two month’s span.

[su_quote]An Indian shipper told to SteelMint ,”Although, they are ready to pay high prices, they are still struggling hard to get the volume of coke and indicated that Indian importers are looking for other alternatives.”[/su_quote]

SteelMint also analyzed that Met coke from Australia and Russia are dominating the imports in the initial week of May’16.

Indian domestic market overhaul

Offers for indigenous material increased by INR 1,000-2,000/MT for different grades, depending on quantity and delivery terms the previous month. However, Indian coke offers remained static for the present week.

SteelMint assessed that prices are investigated at INR 14,000/MT (ex-plant+duties) for 25-80 mm BF grade Met coke in the eastern locale. However, it was recorded at INR 15,000/MT (ex-plant+duties) for western and southern regions.

Also, SteelMint found that all the domestic coke makers are optimistic about the government imposing anti-dumping duty on Met coke imports and anticipate enjoin towards May’16 end.