In late August, SteelOrbis reported Colombia offering coke cargos to India with approximately 65 percent CSR and over 12 percent ash for $350-355/mt CFR India. Sources inform SteelOrbis that India’s overall import offers at the time were approximately at $345-360/mt CFR India.
According to sources, met coke offers peaked at approximately $385-395/mt CFR India in early October, and offers from various destinations, primarily from China, are presently around $340/mt CFR India. Predominantly, sources express the sentiment of further downward expectations as Chinese supply is expected to face a surplus given the announced winter steel production cuts. Buyers are reportedly interested at levels of $310-315/mt CFR.
In September, China exported 467,537 mt of met coke with 138,670 mt (30 percent) to India, 53,856 mt (12 percent) to Mexico and 49,922 mt (11 percent) to Vietnam. China exported 5.75 million mt for the nine-month period ended September, a decline of 24 percent compared to the same period in 2016.