Domestic Met coke offers stable this week, manufacturers optimistic. Imported Met coke offers were also unaltered.
Anticipated investigation on instigation of anti-dumping duty on Met coke imports from China and Australia has started to affect market sentiments. Domestic Met coke manufacturers predict price rise in coming weeks.
Anti-dumping, if imposed on Met coke import, will directly benefit domestic Met coke manufacturers.
Currently, domestic Met coke offers are assessed at INR 12,000-12,500/MT for 25-80 mm BF grade Met coke; have remained stable from couple of weeks.
Global Met coke market
Met coke futures had been decreasing continuously due to subdued demand and oversupply from Chinese sellers in last couple of months. Aggressive selling from China had endowed Indian buyers with bargaining power. As a result, Met coke prices had moved down to record low.
After witnessing continuous downfall, prices this week recorded no further downfall. Some of the major Met coke producers in China have halted their production. This resulted into limited supply of material in the market.
Currently, 64% CSR Met coke offers from China are hovering in the range of USD 124-125 /MT, CFR India, alike preceding week. Whereas, 62% CSR Met coke prices are assessed at USD 122-123/MT.
An importer told to SteelMint, “64% CSR Met coke for 30,000 MT cargo is available at USD 124/MT, CFR India.”
It is to be noted that India has already imported 2 MnT of Met coke till Nov’15 in FY16.
Leave a Reply