The prevailing rainy season has eroded demand for Met coke in India.
Domestic prices have remained unchanged from that prevailed last week. In the eastern coast of the country, the ex-work prices of the Blast Furnace grade are at INR 3,500-4,000/MT. In the western coast, the ex-work prices are at INR 5,000/MT.
Notably, the rising Coking coal prices might restrict any decline in domestic prices.
On the other hand, import offers have gone up as a result of increasing Coking coal prices. The latest import offers of the 64 CSR Met coke was assessed higher at USD 165.5/MT FoB China; and that of the 62 CSR Met coke was also assessed higher at USD 163.5/MT FoB China.
For Indian buyers, these import offers amount to: USD 178/MT CFR India and USD 176/MT CFR India.
Some of the buyers spoken to by SteelMint revealed that they preferred imported Met coke over domestic variants.
IMPORTS
Imports have somewhat shrunk due to low demand in the country. During the 1-22July’16 period, 179,500 MT of Met coke was imported into the country, according to data compiled by SteelMint Research.
The top importers were: JSW Steel, Jindal Steel and Power Limited and Essar Steel.
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