Sign of a possible upturn in the Indian Met Coke prices has appeared on the horizon. Rising Coking Coal prices in Australia have prompted Met Coke producers in China to consider lifting the global export offers; that also indicates that the purchases in India will gather momentum.
The latest offer for the 64% CSR Met Coke is assessed at around USD 304/MT FoB China, up by around USD 7/MT from the week-ago rate. In a similar trend, the recent offer for the 62% CSR Met Coke also is assessed lower by around USD 7/MT, at around USD 294/MT, against the offer in the week last.
Source: CoalMint Research
For Indian buyers, these offers translate into: USD 319/MT and USD 309/MT respectively on CFR India basis.
In India, the demand has been lackluster as the buyers waited for significant decrease in the global export offers, but with the prospect of the international price upturn will now prompt Indian buyers to become active in the purchases.
The prevailing ex-works prices for the Blast Furnace grade in the country are at: INR 22,200/MT (east coast), and INR 27,000/MT and 28,000/MT (west coast).
Moderate imports have entered into India. During the 1-27Nov’17 period, around 0.36 MnT of Met Coke was imported in the country, data compiled by CoalMint Research shows.
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