Met Coke global offers continue to fall as bearish sentiments ruled the atmosphere. Market participants in China speculate further downward traversal in the offers due to the waning demand there, mainly arising out of the steel production cut in the winter season.
The latest offer for the 64% CSR Met Coke is assessed at around USD 297/MT FoB China, which is down by around USD 15/MT over the week-ago offer. Likewise, the recent offer for the 62% CSR Met Coke is assessed lower by around USD 15/MT, at around USD 287/MT FoB China, against the offer in the week last.
Source: CoalMint Research
For Indian buyers, these offers amount to: USD 312/MT and USD 302/MT respectively on CFR India basis.
Meanwhile in India, MMTC has fixed its ex-works price for 25-80 mm LAM Coke at INR 27,000/MT (7,000 MT lot).
In India, demand for Met Coke has softened as the buyers waited for the global offers to sink to significant levels. Met Coke producers in the country thus found no reason to revise their ex-works prices. The prices were kept unchanged as a result.
Source: CoalMint Research
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 30,000/MT (west coast).
During 1-20Nov’17, around 0.3 MnT of Met Coke was imported in India, data compiled by CoalMint Research shows. Imports were subdued due to the Indian buyers adopting wait-and-watch stance.
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