Offers of Chinese Met coke have kept on growing for universal buyers. India, the prime buyer of Chinese Met coke is receiving offers at USD 168/MT; prices up by approx USD 25/MT.
Offers for Chinese coke in the universal markets proceeded with their uptrend this week, as purchasers hunt down accessible cargoes in the midst of higher residential Chinese coke demand and surging prices in domestic market.
Cargoes of 64% CSR grade Met coke from China are costing at USD 168-169/MT, CFR India. Besides, 62% CSR offers are evaluated at USD 167-168/MT, CFR India. Alike 64% CSR grade, 62% CSR grade Met coke offers have increased by USD 25-26/MT in a week’s time for Panamax vessel, SteelMint assessed this week.
An Indian shipper advised to SteelMint, “No payload for coke will be available before June for stacking because of lower stock, extraordinary nearby coke demand in China and Met coke prices will show upward movement in the coming days”.
According to SteelMint’s analysis, India has already imported 0.1 MnT of Met coke in the month. Continuously surging prices of Met coke are compelling Indian importers to go for import from other sources.
Domestic market updates
Domestic prices grew by INR 500-1,000/MT for different region, depending upon quantity and delivery terms. Domestic Met coke offers moved up this week, after struggling for 2-3 months. Prices have surged by INR 500-1,000/MT with the commencement of the month.
SteelMint assessed that, currently, prices are reviewed at INR 13,000/MT (ex-plant+duties) for 25-80 mm BF grade Met coke.
A domestic producer told to SteelMint, “Domestic Met coke prices will grow suddenly by INR 2,000-2,500/MT in coming weeks owing to rising imported coking coal and Met coke prices.”
Prices- USD/MT,CFR India (international grade)
Prices- INR/MT,Ex plant for domestic (excluding duties & taxes)
Average monthly Prices
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