On December 18, SteelOrbis reported Chinese import met coke (64-65 percent CSR) offers stable week-on-week to India at $392-393/mt CFR India or approximately $377-378/mt FOB China with lower grade met coke reportedly at $384-385/mt CFR India or approximately $368-369/mt FOB China.
According to Indian sources, met coke import offers have ticked down at year-end and are now reportedly at $379-380/mt CFR India or approximately $363-364/mt FOB China with lower grade met coke reportedly at $368-369/mt CFR India or approximately $353-354/mt FOB China. In CFR terms, this would represent a decline of $13/mt on 64 percent CSR and $16/mt on 62 percent CSR.
According to a source, prices for imported met coke actually began to decline earlier in December despite some premium ex-China vendors trying to maintain higher CFR India offer prices on both 64 percent and 62 percent CSR into mid-December. He added, “I would say that $380 to $384/mt CFR opportunities on 64 percent CSR came into the market since earlier in December as the reality of a weaker steel market that would not revive immediately set in.” He noted that coking and coke prices, while facing a softer demand at year-end, are likely to continue receiving support from environmental protection measures that will limit production in China as well as require the use of higher quality materials in the steel production chain.