Coke prices expected to touch $470/ton shortly
Met coke prices are expected to touch the $470/ton-mark shortly with rise in blast furnace capacity by steel mills and prices of raw material (coking coal) shooting up in the last two months, the whole time director and CEO, Ennore Coke, Ganesan Natarajan, said on December 14.
"Coke prices are currently hovering around $430-440/ton fob India. With coking coal prices rising every month and demand-supply gap for coke expanding, we expect coke prices to touch $470/ton levels soon," Natarajan said on the sidelines of a steel raw materials conference. "With blast furnace capacity increasing and more and more secondary steel producers depending on indigenous coke, the demand-supply gap of coke is expected to expand to 25 million tons per annum (mtpa) in five years from 12 mtpa now," he said. Ennore expects coking coal prices, currently at $245-250/ton cif India, to rise by another $25/ton in January-February period, owing to higher consumption in China and maintenance in some berths in Australia.
"Coke prices are currently hovering around $430-440/ton fob India. With coking coal prices rising every month and demand-supply gap for coke expanding, we expect coke prices to touch $470/ton levels soon," Natarajan said on the sidelines of a steel raw materials conference. "With blast furnace capacity increasing and more and more secondary steel producers depending on indigenous coke, the demand-supply gap of coke is expected to expand to 25 million tons per annum (mtpa) in five years from 12 mtpa now," he said. Ennore expects coking coal prices, currently at $245-250/ton cif India, to rise by another $25/ton in January-February period, owing to higher consumption in China and maintenance in some berths in Australia.
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