Despite the attempts to keep prices stable, Indian metallurgical coke suppliers appear to have had no other option but to give discounts in order to attract buyers. Even in such cases, local met coke prices in India remain far less attractive compared to those for ex-China metallurgical coke. Specifically, this week a few sales of blast furnace (BF) coke (64% CSR, 25-90 mm) have been heard in the domestic market at INR 39,000/mt ($477/mt) ex-works, though official quotations have remained mostly in the range INR 40,000-42,000/mt ($490-514/mt) ex-works. “Cokeries here expect prices to go below $200/mt FOB [for ex-Australia premium hard coking coal], so it exerts pressure on local coke prices even further,” an Indian trader stated.
Meanwhile, according to some sources, ex-China metallurgical coke (CSR 65/63%) offers from traders have declined to $390-395/mt CFR, for December shipment, compared to $400-410/mt CFR a week ago. However, official offers for met coke (CSR 65/63%) from Chinese exporters are at $410-415/mt FOB this week, up from $410/mt FOB a week ago, while coke (62/60% CSR) has been offered at $395-400/mt FOB, up by $5/mt over the past ten days.