Met Coke demand has softened in India as buyers postponed purchases in the prospect of the prices declining due to the falling Coking Coal prices.
IMPORT OFFERS GO DOWN FURTHER
Import offers have drifted down further, being pulled down by the sliding Coking Coal prices. The recent import offer for the 64% CSR Met Coke is reported lower at USD 274.50/MT CFR India. In a similar trend, the latest import offer for the 62% CSR Met Coke also is reported down at USD 270.50/MT CFR India.
Source: CoalMint Research
Chinese sellers have quoted these offers at: USD 263.50/MT and USD 259.50/MT respectively on FoB basis.
TEPID DEMAND PREVAILS IN INDIAN MARKET
Demand in India has remained sluggish as the sliding Coking Coal prices incited the buyers to postpone purchases in the prospect of Met Coke prices going down to significant levels.
Domestic producers in the country have kept their ex-works prices unchanged as there was almost no demand.
The ex-works prices in India for the Blast Furnace grade have remained at: INR 22,300/MT (east coast) and INR 20,000-28,000/MT(west coast).
Source: CoalMint Research
Demand is expected to return to the country’s market by Apr’17, as some traders said to CoalMint.
IMPORTS
As Indian buyers refrained from procuring the material, imports were low. During the 1-13Feb1’7 period, only 67 ‘000MT of Met Coke was imported into India, according to CoalMint Research.
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