Signs of an imminent fall in Met Coke prices in the key international region are appearing. The likely decline in the Met Coke prices is expected to be driven by the falling Coking Coal prices, and weathering demand. Demand for Met Coke is decreasing in China as the government of that country is about to implement measures to cut-down steel production, primarily aimed at lowering atmospheric pollution.
Met Coke offers have not yet changed significantly, but are expected to come down in the coming days.
The latest offer for the 64% CSR Met Coke is assessed at around USD 372/MT FoB China, which is lower by around USD 3/MT from the offer in the week last. Likewise, there is also a drop of around USD 3/MT over the week-ago offer in respect to the 62% CSR Met Coke, which is assessed this week at around USD 367/MT FoB China.
For Indian buyers, these offers translate into: USD 389/MT and USD 384/MT respectively on CFR India basis.
There is sufficient demand for Met Coke in India, said a reputed trader, while speaking to CoalMint. And, with the expected decline in the global offers, buying in India is likely to gather sufficient momentum.
The domestic producers in India have not revised their ex-works prices from the week-ago rates.The prevailing ex-works prices for the Blast Furnace grade in India are: INR 22,200/MT (east coast),and INR 27,000/MT and 30,000/MT (west coast).
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