Met coke business in the Indian market
Ganesan Natarajan, President & CEO, Ennore Coke Ltd, discusses about international steel and coking coal market.
By ET Bureau |
| Ganesan Natarajan, President & CEO, Ennore Coke Ltd |
Ganesan Natarajan, President and CEO, Ennore Coke Limited, discusses about international steel and coking coal market.
What is the current scenario of Met coke business in the Indian market?
Pig Iron industry is in bad shape due to imposition of 15 per cent export duty. Most of the pig iron plants have either reduced production capacity or pulled down their shutters. Hence, the Indian market is in a very volatile state. It is expected that the situation is likely to change within a month.
What are Ennore Coke Limited���s plans for coking coal supplies in the present sluggish market?
Ennore Coke Limited has already entered into a supply contract with coking coal mines in USA through our sister concern and is likely to receive the first shipment by the first week of December 2008. We have purchased good quality coking coal from MMTC and we are also getting into a long-term contract with MMTC for coking coal supplies in the near future.
What is your opinion about the present market trend of Met Coke prices with reference to the International Steel Market?
Where do you see Ennore Coke Limited in the emerging coke market?
In the past one year, Ennore Coke Limited ��� through innovative measures has positioned itself as a key player in the coke market by taking giant strides towards achievement of 0.5 TPA.
This is, in fact, acknowledged by the Indian Economic Development & Research Association which has conferred the ���Business Leadership Award For Industrial Development��� to our company.
What is the current scenario of Met coke business in the Indian market?
Pig Iron industry is in bad shape due to imposition of 15 per cent export duty. Most of the pig iron plants have either reduced production capacity or pulled down their shutters. Hence, the Indian market is in a very volatile state. It is expected that the situation is likely to change within a month.
What are Ennore Coke Limited���s plans for coking coal supplies in the present sluggish market?
Ennore Coke Limited has already entered into a supply contract with coking coal mines in USA through our sister concern and is likely to receive the first shipment by the first week of December 2008. We have purchased good quality coking coal from MMTC and we are also getting into a long-term contract with MMTC for coking coal supplies in the near future.
What is your opinion about the present market trend of Met Coke prices with reference to the International Steel Market?
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Currently coking coal prices have come down as compared to that in the month of August. This is mainly due to decrease in steel production in China. Most likely, the demand for met coke will increase after the Chinese New year. Major steel plants from Japan have signed coking coal supply contracts with US coking coal mines at USD 370-320 FOB for premium quality material for January 2009 supplies. Met coal prices is expected to be on the upswing by Feb 2009.Where do you see Ennore Coke Limited in the emerging coke market?
In the past one year, Ennore Coke Limited ��� through innovative measures has positioned itself as a key player in the coke market by taking giant strides towards achievement of 0.5 TPA.
This is, in fact, acknowledged by the Indian Economic Development & Research Association which has conferred the ���Business Leadership Award For Industrial Development��� to our company.
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