Chinese Met coke offers this week surged up by USD 4-5/MT. Pick up in Chinese domestic market has incited this price rise.
Chinese merchants have offered coke in the scope of USD 116-120/MT, FoB for various evaluations. Prices have shown an uptick due to supply shortage and growing demand in domestic market from recent two weeks. Chinese dealers are offering high prices, but are not committed over supply dates.
As per SteelMint’s research, 64% CSR grade Met coke offers from China are costing at USD 119-120/MT, FoB. Likewise, 62% CSR offers are evaluated at USD 116-117/MT, FoB. Alike 64% CSR grade, 62% CSR grade Met coke offers inched up in week’s time.
Low coke production, loses to coke ovens, spurt in local Chinese enthusiasm for material joined with extended steel and ferro alloys in India prompted price ascent of Met coke.
[su_quote]A Chinese trader told SteelMint, “Chinese residential, business area is seeing the sudden addition in steel production this has suddenly called for higher quantities of coke and limited availability of the material had finally led to demand-supply gap.”[/su_quote]
However, Indian shipper said that all though he is ready to book the material at current prices, but Chinese traders are not committing over supply dates. He further told to SteelMint that he has been trying to booking the material at USD 129-130/MT, CFR India, but have not succeeded. He anticipated that the booking will start probably by next week.
On the contrary, Indian domestic Met coke prices in India fell by INR 300-500/MT in the starting of the month and still are showing no sign of improvement. Right now, domestic Met coke offers are surveyed at INR 11,300-12,000/MT for 25-80 mm BF grade Met coke.
[su_quote]A domestic Met coke producers told to SteelMint, “As of now, green cess on coal was increased, but Met coke prices were kept unaltered because of low demand and anticipated changes must be normal after decision on anti-dumping duty declaration’’.[/su_quote]
It is to be noted that in order to safeguard domestic coke producers, Indian Metallurgical Coke Manufacturers Association (IMCOM) on behalf of indigenous producers had applied for instigation of investigation for imposing anti-dumping duty on LAM coke exported from China and Australia on 30 Dec’15. And, as per concerns, the result is anticipated till the end of May’16.
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