Met Coke: Prices drift up as outlook improves on healthier demand

Chinese metallurgical coke export prices have recovered considerably over the past one month, on the back of resurging demand in the Asian spot markets.

Indian met coke import prices have also started drifting upward since late last month, with an average uptick of at least $10/t compared against offers prevailing a month ago.

Buying sentiments in the Asia-Pacific markets outside China have turned bullish amid steel mills' restocking needs, arising due to steady resumption of production activities.

Indian Market Scenario--

The Indian market has lately been observing a significant increase in enquiries for spot cargoes of seaborne met coke, although there has not been any significant improvement in steel product sales.

With the majority of Indian steel plants having resumed normalized operations, trading activity for imported met coke is anticipated to gather pace as early as next month following the likely offset of the monsoon rains.

Overall buying interests among market participants are presently "stable with an upside" according to most traders.

Price Assessments--

Chinese metallurgical coke export prices for the 64% CSR and the 62% CSR grades are currently assessed at around $273.00/t and $267.00/t FOB China respectively.

Indian metallurgical coke import prices for the 64% CSR and the 62% CSR grades amount to $300.00/t and $282.00/t respectively on CNF India basis.