Met Coke prices in India are likely to go up with the onset of Apr’17, as indicated by the market sentiments.
IMPORT OFFERS GO UP
As the result of the ban on North Korean coal imports by China, prices of Met Coke have gone up in that country, resulting in sellers raising export offers. Domestic Coking Coal prices in China escalated after the ban that triggered upward traversals in Met Coke prices.
The latest import offer for the 64% CSR Met Coke is assessed higher by around USD 6/MT at USD 291/MT CFR India. Similarly, the recent import offer for the 62% CSR Met Coke is assessed at USD 288/MT CFR India, higher by USD 6.5/MT than the week-ago rate.
Source: CoalMint Research
Sellers in China have quoted these offers at: USD 277.50/MT and USD 275/MT respectively on FoB basis.
DOMESTIC PRICES LIKELY TO GO UP
Domestic Met Coke prices are speculated to go up with the onset of Apr’17 as purchases will gather momentum. Demand is currently low in the country as buyers are halting purchases as their financial accounts are closing during the last days of the fiscal.
With the beginning of the new fiscal, Met Coke purchases are expected to resume actively as Blast Furnaces in the country are running at high rates.
A producer in the west coast in the country has raised its ex-works price by INR 1,000/MT in anticipation of the imminent stronger demand.
The prevailing ex-works prices of the Blast Furnace grade in India are at: INR 22,000/MT(east coast) and INR 22,000-26,500/MT(west coast).
Source: CoalMint Research
IMPORTS
Met Coke imports have not yet strengthened in India. Buyers are looking at import regions other than Australia and China as Anti Dumping Duty is being imposed on imports from these regions.
During the 1-24 Mar’17 period, around 0.3 MnT of Met Coke was imported into India, data collected by CoalMint Research shows.
Source: CoalMint Research
According to a predictive model, developed by CoalMint Research, approximately 0.09 MnT of Met Coke is likely to be imported into the country in Mar’17.
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