Asian met coke slips on low demand and falling rupee

摘要

The seaborne metallurgical coke market slid a further 7 dollars/mt Thursday, to 365 dollars/mt CFR India, as the impact of weak demand was amplified by a devalued Indian rupee against the US dollar. Price opinions among various sources ranged between 360-370 dollars/mt CFR East India for imported Japanese blast furnace coke of 62% CSR. Indian steel mills are “in bad shape,” one domestic steel producer said. An Indian trader agreed, saying this resulted in weak demand for coke.