Indian companies Vedanta Limited and Malco Energy have floated an auction for around 13,950 mt of coke. The tender is for foundry coke (70 mm and above), for blast furnace coke (20-90 mm) and nut coke (8-25 mm).
Overall, the outlook in the metallurgical coke market towards future developments in India has remained bearish, with the current prices having reached INR 51,000/mt ($658/mt) ex-works. “Yesterday, a manufacturer was saying that they might start offering at INR47,000-48,000/mt ex-works in the next two to three days,” an Indian trader stated. However, no supplier has confirmed the abovementioned prices as relevant by the time of publication. One way or another, the current prices are INR 2,000/mt ($42/mt) lower compared to those valid one week ago.
Meanwhile, in the import segment a deal for ex-China blast furnace (BF) coke (CSR 62/60%) has been discussed in the market. The price was mentioned at $562/mt level, without specification of FOB or CFR basis. However, as the information has not been confirmed by the seller or buyer, it is considered to just be a rumour. In its turn, firm offers of ex-China BF (CSR 65/63%) have been heard at $580/mt FOB, with freight at around $70/mt from China to India. In the meantime, ex-China coke breeze is available in India at approximately $390/mt CFR.