Met Coke offers from the key international market have continued to rise abruptly, pulled up by the rising Coking Coal prices, strong demand and tight domestic supply in China.
The latest offers for the 64% CSR Met Coke have gone up remarkably by around USD 17.5/MT to around USD 375/MT FoB China over the offers in the week last. The recent offers for the 62% CSR Met Coke also have moved up by around USD 16/MT to around USD 370/MT FoB China against the week-ago offers.
For Indian buyers, these offers translate into: USD 390/MT and USD 385/MT respectively on CFR India basis.
In India, demand for Met Coke has moderated as the buyers adopted a wait-and-watch stance in view of the significantly rising offers. The buyers have thus preferred to purchase from the domestic market rather than procuring from foreign markets. Moreover, they bought the material on need basis and refrained from buying in excess of the immediate requirement.
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).
Source: CoalMint Research
Clearly, the domestic prices are expected to go up in the near future due to the escalating offers.
In a communication with a reputed importer, the last known Met Coke offer from Columbia was learnt to be at around USD 280/MT CFR India.
IMPORTS
Met Coke imports in India have losen steam due to the higher prices in overseas markets. During the 1-18 Sep’17 period, only 152,900 MT of Met Coke was imported in India, data compiled by CoalMint Research shows.
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