Met Coke international offers have escalated further with the rising Coking Coal prices. Recently, all coal handling ports in Australia have raised the port tariffs by 3% that compounded to the already increasing prices of Coking Coal—triggering upward traversals in Met Coke prices.
The latest offer for the 64% CSR Met Coke is reported at USD 294.50/MT FoB China, which is up by USD 3/MT that the week-ago offer. Likewise, the recent offer for the 62% CSR Met Coke is also reported to go up by USD 3/MT, at USD 291/MT FoB China, over the offer reported in the last week.
Source: CoalMint Research
For Indian buyers, these offers translate into: USD 309.50/MT and USD 306/MT respectively on CFR India basis.
The rising offers have also posed as an indication of the prospect of the Indian Met Coke producers to raise their ex-works prices further.
In India, the prevailing ex-works prices for the Blast Furnace grade are: INR 21,700/MT (east coast), and INR 22,500/MT, INR 25,500 and INR 28,000/MT (west coast).
As a sequel to the ongoing monsoon season, moderate demand is prevailing, but the demand will strengthen as the steel plants are running at high rates.
IMPORTS
Met Coke imports have not yet gained momentum in India as demand is moderate, and most of the buyers waited for the offers to come down. During the 1-28 July’17 period, around 0.23 MnT of Met Coke was imported in India, data compiled by CoalMint Research shows.
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