On January 3, SteelOrbis reported met coke (64-65 percent CSR) import offers to India on an upward trend week-over-week at $395-401/mt CFR India, due to tighter supply and higher coking coal prices.
As Chinese coking coal prices have softened, along with improved Chinese coking coal production expectations in the first quarter of the year and softness in the Chinese steel market, sources inform SteelOrbis that met coke import offers to India have also softened. Offers are presently wide at $380-395/mt CFR India. The prices are reportedly considered too high in the Indian market despite the ongoing steel market recovery in the country.
Sources report that bids for Chinese met coke have decreased through the week as Indian buyers seek a clearer direction in the market. Bids from mills in Vietnam, India and other Asian countries have been reportedly made at $330-335/mt FOB Chinese port or approximately $355-370/mt CFR.