Seaborne metallurgical coke prices have fallen for the third week in a row, after escalating for six consecutive weeks, on the back of weak exports in China.
Reportedly, there has been no trading in China’s met coke export market in the past few weeks in view of the historically high prices, with limited inquiries and offers heard.
Moreover, China’s domestic met coke producers in the northern provinces of Shanxi, Hebei and Shandong have agreed to cut down coke prices by RMB 100/MT, due to ample coke inventories at steel mills and weaker demand.
Chinese met coke prices are unviable for the Indian buyers at the moment.
PRICE ASSESSMENTS
The latest import offers for the 64% CSR met coke are assessed at around USD 374/MT FOB China, lower by about USD 2/MT than the average price of USD 376/MT in the week gone by (24-30 Sep’18).
Similarly, offers for the 62% CSR met coke have decreased to around USD 365/MT FOB China.
For Indian buyers, these offers amount to USD 391.50/MT and USD 382.50/MT respectively on CNF India basis.
In India, the current ex-works prices of the blast furnace grade are assessed at around INR 27,000/MT (east coast) and between INR 28,000 and 29,000/MT (west coast).
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