Met Coke markets are engulfed with weak sentiments, arising out of lackluster demand.
Falling prices of Coking Coal have resulted in the prices of Met Coke sliding on a continuous basis. The demand also has weakened due to the steel makers, the buyers, waited for the prices to decline to significant levels.
In a communication with a Chinese trader, prices of Met Coke in the domestic markets of that country were learnt to be at lows and without movements due to sluggish demand. According to the trader, Met Coke prices at the Shandong market of that country were at around Yuan 1,750/MT.
Offers for the 64% CSR Met Coke have come down to around USD 325/MT FoB China, down by around USD 2/MT against the week-ago offers. Likewise, offers for the 62% CSR Met Coke this week also have slipped by around USD 2/MT, over those in the last week, to around USD 315/MT FoB China.
Source: CoalMint Research
On CFR India basis, these offers amount to: USD 341/MT and USD 331/MT respectively.
Akin to the China market, the Indian Met Coke market also has borne lackluster atmosphere, due to the buyers postponing purchases and waited for the prices to hit the rock bottom.
Indian Met Coke producers thus have not found any reason to revise their prices in the sluggish market. However, the producers are likely to down revise their ex-works prices in the coming days.
Source: CoalMint Research
The current ex-works prices for the Blast Furnace grade in India are at: INR 25,500/MT(east coast) and INR 25,500-27,500/MT (west coast).
As the Indian buyers have moved to the sidelines, postponing purchases, imports of Met Coke in the country were also low. During the 1-20Apr’18 period, only 208,886 MT of the material was imported in India, data compiled by CoalMint Research shows.
Leave a Reply