Falling Met Coke Offers Fail to Incite Demand in Indian Market

The Met Coke market in India is without much activity, with domestic prices undergoing no movement and demand remaining at low levels.

Following the sinking Coking Coal offers in international markets, Met Coke offers also have been exhibiting a declining trend.

The latest offer for the 64% CSR Met Coke is assessed at USD 264/MT CFR India, lower by around USD 14.5/MT than the rate assessed the week last. Likewise, the fresh offer for the 62% CSR Met Coke is assessed lower by USD 10/MT, at USD 261/MT CFR India, from the week-ago rate.

Source: CoalMint Research

Sellers have quoted these offers at: USD 253/MT and USD 250/MT respectively on FoB China basis.

In India, purchases of Met Coke have not yet gained momentum; apparently buyers were waiting for the prices to recede further. Some market participants told CoalMint that there were prospects of the prices to go down in the coming days. There was no recent price revision by Indian producers.

Source: CoalMint Research

The ruling ex-works prices in India of the Blast Furnace grade are at: INR 21,500/MT (east coast) and INR 21,000/MT, INR 23,000/MT, INR 24,000/MT, INR 26,000/MT (west coast).

IMPORTS

During the 1-9Jun'17 period, 47,600 MT of Met Coke was imported in India, data collected by CoalMint Research shows. Imports have remained at moderate levels as buying did not pick up.

However, imports are expected to pick up in the coming days as international offers are falling.