Ex-China metallurgical coke offers have continued to attract the attention of Indian steelmakers as they are more favorable compared to local Indian prices. SteelOrbis has learned of a fresh booking of 50,000 mt of ex-China blast furnace (BF) coke (64% CSR), done by a major Indian steelmaker at $425/mt FOB. The CFR price may be not less than $465/mt CFR, with the freight rate being estimated at around $40/mt. The price in the latest deal is around $35/mt higher compared to that transacted for ex-China material which is now approaching the Indian coasts.
Meanwhile, BF coke, produced by local plants based in the western regions of India is said to be available at INR 41,000/mt ($502/mt) ex-works, up INR 1,000/mt ($12/mt) compared to the tradable prices in early September.
$1 = INR 81.60