India's met coke production rises 8% m-o-m in May'23

India's met coke production increased by 8% m-o-m to 4.16 million tonnes (mnt) in May 2023 as against 3.85 mnt in April, according to data maintained with CoalMint. Out of the total production, merchant met coke output was 0.25 mnt, up 19% m-o-m, while captive production amounted to 3.91 mnt, up 7% m-o-m.

Key steel indicators influencing met coke output

India's finished steel production stood at 10.898 mnt in May. Production increased by 3% m-o-m as against 10.604 mnt in April. In addition, production rose by 9% y-o-y compared to 10.005 mnt in the preceding year. Finished steel production rose by 9% y-o-y to 21.482 mnt in FY23 (April-May) as against 19.632 mnt in the same period last year.

India's finished steel exports declined about 19% m-o-m to 0.693 million tonnes (mnt) in May 2023 compared with 0.855 mnt in April.

Crude steel production by Indian mills stood at 11.246 mnt in May, up 2% from 11.051 mnt in April. Moreover, output increased by 5% y-o-y compared to 10.725 mnt a year ago.

India's finished steel consumption stood at 10.361 mnt in May. Consumption increased by 4% m-o-m as against 9.950 mnt in April. Furthermore, consumption rose by 8% y-o-y compared to 9.609 mnt in the preceding year.

Outlook

Indian met coke output may decrease during the monsoon season due to the impact on infrastructure and construction activities in the country. Domestic met coke prices have been continuously falling over the past few weeks amid drop in imported offers. This may prop up buying interest.