Approaching festivals have deferred domestic Met coke trading; prices remain unchanged even as demand goes down further.
Domestic Met coke market is under pressure as indigenous coke prices dipped by INR 500-1000/MT M-o-M. However, prices of domestic Met coke (25-80 mm) are unchanged this week compared to last week.
Demand for indigenous Met coke has also weakened considerably as Indian steel manufacturers choose procuring the material from overseas, prompted by falling prices in international market.
Domestic Met coke prices (25-80 mm) are assessed at INR 12,500-13,000/MT, ex-plant.
Imported Met coke market
Imported Chinese Met coke offers to India have declined marginally this week owing to sluggish demand. A week long holiday in China this month has slacked trade activities. Met coke offers from China fell by USD 1-2/MT in a week’s time.
SteelMint assessed that current offer for 64% CSR Met coke from China is assessed at USD 125-126/MT, FoB and 62% CSR at around USD 124-125/MT, FoB.
Chinese 64% CSR Met coke is being offered at USD 139-140/MT, CFR East Coast of India; costing Indian buyers at around INR 10,000+/MT.
A market participant highlighted that currently 64% CSR Met coke is more preferred over 62% CSR grade by Indian importers due to nominal difference of USD 1/MT.
Grade- Chinese Met Coke
Prices- USD/MT CFR India (Average Monhly Prices)
Qty in MnT
Oct’15 Imports- Till latest updates
Source- SteelMint
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