India's met coke production rises by 24% in Apr'23

India's met coke production increased by 24% m-o-m to 3.85 million tonne (mnt) in April 2023 as against 3.1 mnt in March 2023, according to data maintained with CoalMint. Out of the total production, merchant met coke output was 0.21 mnt, down 13% m-o-m while captive production amounted to 3.6 mnt, up 26% m-o-m.

Key steel indicators influencing met coke output

India's finished steel production stood at 9.983 mnt in April. Production dropped by 11% m-o-m as against 11.274 mnt in March. Nevertheless, production inched up by 4% y-o-y compared to 9.627 mnt in the year-ago period.

India's finished steel exports remained largely stable m-o-m at 0.855 million tonnes (mnt) in April 2023 compared to 0.812 mnt in March. Export volumes increased 12% y-o-y compared to 0.761 mnt in April 2022, as per provisional data released by the Joint Plant Committee (JPC).

Crude steel production by Indian mills stood at 10.507 mnt in April, down 8% from 11.412 mnt in March. However, output increased 1% y-o-y compared to 10.387 mnt a year ago.

India's finished steel consumption stood at 9.875 mnt in April, down 5% m-o-m as against 11.160 mnt in March. However, consumption rose by 7% y-o-y compared to 9.210 mnt in April 2022.

Outlook

Indian met coke output may rise in the near-term amid preference by the domestic steel industry. Also, met coke prices have seen a continuous fall in last few weeks which may enhance procurement by buyers. With unseasonal rains in different parts of the country, demand has been constricted.