Coal news and updates

Low demand for imported met coke in India

August 1: A depressed trend in steel has significantly reduced demand for imported metallurgical coke in India, traders said.

“There is no buyer for imported metallurgical coke and bids are difficult to find in the current circumstances,” a Kolkata-based trader said.

“The current offers are coming at anywhere between $200 and $210 per ton CFR India, but matching bids are not coming in because of depressed steel market conditions,” said the trader.

However, another trader added, in the absence of any firm bid, whatever prices are being offered are only “notional’ and that he does not see any improvement in the situation in the coming few days.

“At present, met coke volumes are not arriving from Russia and Ukraine due to the existing tussle between the two countries, while Japanese coke too is not arriving because steel-makers there are using up the material themselves,” the second trader said.

“In any case, the Japanese material comes in the size of 20-50 mm, which is slightly bigger than nut coke. But some small steel-makers could use it if the price is reasonable,” he observed.

“I have offers for Chinese met coke of 64% CSN at $215 per ton CFR India, 62% CSN at $212 per ton and 60% CSN at $210 per ton, but I am not getting any bids from steel- makers,” the trader said.

The trader also has offer for ultra-low phosphorus (of 0.012%) Italian nut coke of 10-30 mm size at $236 per ton CFR India, but is not finding any takers.

“Italian coke is slightly expensive because of high freight costs as only 10,000 tons of the material can be loaded from their ports,” the trader said.