Spot prices of met coke have shown some signs of recovery over the past two weeks, owing to an upswing in the global prices of the key input, coking coal—prices for the Premium Low-Vol HCC are currently pegged at USD 184.50/MT FoB Australia, which translates into USD 198.75/MT CFR India.
Further, the metallurgical coal market seems to be poised for further strength, primarily ascribable to the prospects of end-user demand growth in the Chinese construction sector.
In addition, the rising demand from user industries, like cast iron, brass foundries and blast furnaces of steel plants from both domestic and foreign markets, has led to revival in met coke prices during the last few weeks.
Latest offers for the 64% CSR met coke have gone up to USD 332/MT FoB China, higher by USD 9/MT over the week-ago assessment. Similarly, offers for the 62% CSR met coke are assessed to be at about USD 322/MT FoB China, higher by USD 9/MT than the last week.
On CFR India basis, these offers amount to USD 348/MT and USD 338/MT respectively.
However, India’s domestic met coke prices have continued to remain unchanged from the rates that prevailed in the previous week, though market analysts are projecting the prices to rise in accordance with the increasing import offers in the near term.
The current ex-works prices of the Blast Furnace grade are at around INR 26,000/MT (east coast) and in the range of INR 27,000 to 28,000/MT (west coast).
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