Chinese Met Coke Prices Still Slipping on Bearish Outlook

Seaborne metallurgical coke import offers from China continue on a downward trend, with the India-delivered prices falling by another $3/mt this week, as they came under pressure from a softening dry bulk freight market.

In the Chinese domestic market, a price uptick of Yuan 100/mt was proposed by a major met coke producer in Hebei, Tangshan. However, sources expect the met coke market to remain largely stable as the buyers would wait till post the Lunar New Year break to restock.

Prior expectations of lower steel production in January, following the traditional seasonal slowdown between Christmas and Chinese New Year has contributed to a more conservative approach to met coke restocking.

PRICE ASSESSMENTS

Latest prices for the 64% CSR and the 62% CSR met coke grades are pegged at around USD 345/MT and USD 330/MT FOB China respectively, unchanged from last week (since 11 Jan'19).

For Indian buyers, these offers amount to USD 358/MT and USD 343/MT respectively on CNF India basis.

Source: CoalMint Research