The Indian Met coke market is in a dull state; with buyers restricting from excessive purchases in the prospect of possible down-turn in the prices in the near term.
MARKET TREND
Falling Coking coal import offers have created uncertainty among buyers in the country over movement in Met coke prices in the near future. Buyers have thus become cautious in their Met coke purchases in the prospect of the prices getting lower in the coming days.
The uncertain market outlook also has restricted the domestic Met coke producers from revising their ex-works prices. Prices of Met Coke in the eastern as well as western coasts of the country have remained unchanged from that assessed last.
In the eastern coast of the country, price of the Blast Furnace grade is at INR 14,500-15,000/MT (ex-works). And, that in the western coast is at INR 15,000/MT (ex-works).
In the meantime, import offers have traversed southwards on account of sliding Coking coal prices in international markets.
The latest 64% CSR Met Coke offers from China has declined to around USD 172/MT FoB, which amounts to USD 180/MT CFR India. The recent 62% CSR Met Coke offers also have gone lower to around USD 170/MT FoB China, which comes to USD 178/MT CFR India.
IMPORTS
In May’16(upto the 24th of the month), 369,500 MT of Met Coke was imported into the country, data compiled by SteelMint Research shows.
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