Indian met coke production up 8% m-o-m in Mar'23

India's met coke production picked up by 8% m-o-m to 3.1 million tonnes (mnt) in March 2023 as against 2.87 mnt in February 2023, according to data maintained with CoalMint. Out of the total production, merchant met coke output was 0.24 mnt, up 9% m-o-m while captive production amounted to 2.9 mnt, up 8% m-o-m.

Key steel indicators influencing met coke output

India's finished steel production stood at 10.81 mnt in March. Production increased by 7% m-o-m as against 10.13 mnt in February. In addition, production inched up by 2% y-o-y compared to 10.60 mnt in the preceding year.

India's finished steel exports rose about 40% m-o-m to 0.81 million tonne (mnt) in February 2023 compared with 0.57 mnt a month ago. India's steel export volumes dropped by 32% y-o-y against 1.195 mnt in March 2022.

Crude steel production by Indian mills stood at 11.19 mnt, the highest-ever production in March, up 11% from 10.04 mnt in February. Moreover, output inched up by 1% y-o-y compared to 11.12 mnt a year ago.

India's finished steel consumption stood at 10.985 mnt in March. Consumption rose by 7% m-o-m as against 10.262 mnt in February. Furthermore, consumption rose by 13% y-o-y compared to 9.701 mnt in the preceding year.

Outlook

Indian met coke output is expected to pick up amid preference for the same by the domestic steel industry. Also, with the Indian Metallurgical Coke Manufacturers Association (IMCOM) looking to impose anti-dumping duties on met coke, there can be a decline in imports of the material by Indian mills in the forseeable future.