Considering a sharp increase in ex-Australia coking coal prices in the latest deals, Indian producers of metallurgical coke have succeeded in implementing another round of rises in coke prices. Nevertheless, given that the global met coke market has been increasingly bearish lately (mostly due to the developments in the Chinese market), coke prices in India may bounce back slightly in the coming weeks.
Meanwhile, this week, according to market sources, tradable prices for blast furnace (BF) coke (65% CSR, 25-90 mm) in the western regions of India have increased up to INR 41,000/mt ($501/mt) ex-works, compared to the previous levels at around 36,500/mt ($441/mt) ex-works.
In the import segment, most offers of met coke have remained unchanged compared to the previous levels, at $415-420/mt CFR. In particular, the current offers for ex-Poland met coke (65% CSR, 25-90 mm) have settled at €370-385/mt ($396-413/mt) FOB Baltic Sea (Polish ports), while customers worldwide are said to be cautious now, expecting prices to move down in the coming weeks. Ex-Indonesia and ex-China offers for met coke (CSR 65/63%) have been heard at $400/mt FOB.
$1 = INR 81.7839