Low demand and stable domestic prices are the two notable facets of the Indian Met coke market today.
Prevalence of monsoon season has kept demand for Met coke low. Producers in the country have thus no reason to revise their ex-work prices.
Import offers have been assessed lower than that in the last week. The latest import offers of the 64% CSR Met coke are assessed at around USD 153/MT FoB China, and that of the 62% CSR Met coke at USD 151/MT FoB China. On CFR India basis, these offers amount to: USD 164/MT and USD 162/MT respectively.
In the meantime, Gujarat NRE Limited, the largest Met coke producer in the country, is in the process of ramping up its production to an optimum level. To achieve this, the company had booked coal cargoes of around 1, 15,000 MT for the Jun-July’16 period. It is learnt that out of the amount 65,000 MT has already arrived, and the balance cargo is expected in late Jul’16.
Referring to the domestic prices, 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).
IMPORTS
Met coke imports have shirked in view of the low demand prevailing in the country. In the 1-11 July’16 period, 116,000 MT of Met coke was imported into the country, according to SteelMint Research. The importers were: Jindal Steel and Power Limited, Essar Steel, JSW Steel and Neo Metaliks Limited.
Leave a Reply