Met Coke global offers have risen further due to the twin effects of higher Coking Coal prices and stronger demand.
Demand for Met Coke has become stronger due to the steel plants running at high rates, both in China and India. As the prices of Coking Coal are high, many steel producers prefer buying Met Coke instead of the coal.
Offers for the 64% CSR Met Coke have gone up by around USD 9/MT to around USD 319/MT FoB China, over the week-ago offer. Likewise, offers for the 62% CSR Met Coke have also increased over the offers in the week last by around USD 9/MT to USD 315.50/MT FoB China.
Source: CoalMint Research
For Indian buyers, these offers amount to: USD 334/MT and USD 330.50/MT respectively on CFR India basis.
In India, demand is quite strong as the steel makers are procuring the material uninterruptedly to cater to their daily production needs. Steel production is going on full-fledged in the country that is necessitating constant purchases of Met Coke.
Rumors of the domestic ex-works prices to go up in the near term were rife in the country’s markets. Prevalence of stronger demand and higher Coking Coal prices were attributed for the speculated price outlook.
In India, the current ex-works prices for the Blast Furnace grade are: INR 21,700/MT (east coast), and INR 22,500/MT, INR 26,500 and INR 28,000/MT (west coast).
IMPORTS
During the 1-18Aug’17 period, Met Coke imports in India were at around 0.1 MnT, data compiled by CoalMint Research shows.
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