Aiming to offset their input costs, this week Indian producers of metallurgical coke have decided to revise their coke offers. Consequently, with the attractiveness of local material having decreased again, some Indian steelmakers appear to have returned for the most competitive offers to the import market. Specifically, by the end of the current week, Indian producers of metallurgical coke have mostly increased their offers for blast furnace (BF) coke (65% CSR, 25-90 mm) to INR 44,000/mt ($538/mt) ex-works in the western regions, up INR 3,000/mt ($37/mt) compared to the previous levels. “Some sellers are ready to liquidate inventories at older prices as well. However, in most cases, local prices have risen noticeably,” an Indian trader stated. The revised price levels translate to $444/mt, excluding local taxes in India.
In the meantime, a major Indian steelmaker is reported to have floated a tender for two cargoes of low-ash metallurgical coke (CSR 64-66%, ash not above 12%, 30-80 mm), 40,000 mt each, with February-March laycan. As SteelOrbis reported earlier, ex-Poland offers (65% CSR) have been heard at $440-450/mt CFR, while ex-Indonesia met coke (64% CSR) is still possible to buy at $420/mt CFR.