Met Coke import offers have gone up, driven by rising Coking Coal prices. In response, some producers in west India also have raised their ex-works prices.
The latest import offer of the 64% CSR Met Coke is assessed higher at USD 293/MT CFR India. While, the recent import offer of the 62% CSR Met Coke is also assessed up at USD 291/MT CFR India.
Sellers in China have quoted the export offers at: USD 283/MT and USD 280/MT respectively on FoB China basis.
The rising import offers could be attributed to Coking Coal prices going up in Australia.
In India, some producers in the west coast have raised their ex-works prices in view of the rising Coking Coal prices. But, producers in the east coast have kept their ex-works prices unchanged, although upward revisions are expected in the near term.
In the meantime, strong demand has prevailed in the country’s markets.
In a recent development, the Commerce and Industry Ministry has recommended the Finance Ministry to impose Anti Dumping Duty on imports of Met Coke into India from China and Australia. In the recommendation, imposition of an Anti Dumping Duty of USD 25/MT has been suggested for Met Coke imports from China; and for imports from Australia, the duty has been recommended at USD 16/MT.
Interested readers could refer to the news article: Commerce Ministry Recommends Anti Dumping Duty on Met Coke Imports into India for the complete details.
The prevailing ex-works prices of the Blast Furnace grade are at: INR 23,000-25,500/MT(west coast) and INR INR 19,000/MT (east coast).
Source: Market Participants
Moreover, the prevailing prices of the Foundry Grade are at INR 13,000-14,000/MT.
IMPORTS
Met Coke imports have continued to enter into India. According to CoalMint Research, 410,540 MT of the material had landed at the country’s ports during the 1-24 Oct’16 period.
Leave a Reply