Metallurgical Coke (Met Coke) experienced fluctuating prices in the first half of 2023, influenced by factors like availability and upstream costs. Market demands played a crucial role in shaping the Met. Coke’s behavior. In India, prices steadily rose due to increased demands from infrastructure development. In contrast, North America and Europe faced declining trends due to economic recessions and reduced activities in construction and manufacturing sectors, leading to a downward price trajectory in those markets.
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Definition
Metallurgical Coke, commonly known as Met Coke, is a carbon-rich material derived from high-quality coal or coal blends. It is produced through a high-temperature process called coking, which drives off impurities and leaves behind a porous, solid carbon substance. Met Coke is primarily used in the iron and steel industry as a fuel and reducing agent in blast furnaces, playing a crucial role in the production of iron and steel.
Key Details About the Met Coke Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Met Coke in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Met Coke Price chart, including India Met Coke price, USA Met Coke price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Met Coke Price Trend:
Metallurgical Coke, or Met Coke, serves key industrial purposes primarily in the iron and steel industry. It acts as a vital fuel and reducing agent in blast furnaces during the production of iron and steel. Through the coking process, it is transformed into a porous carbon-rich material that efficiently removes impurities from iron ore, facilitating the conversion of raw materials into high-quality iron and steel products.
Key Players:
- Oxbow Carbon LLC
- BHP Group Limited
- Rio Tinto Group
- Williams & Company
News & Recent Development:
Thermal coal prices have hit their lowest levels since January 2022 due to sluggish demand, but they are expected to stay lower than the mid-2022 highs. Coking coal prices, used in steel production, are also likely to decrease due to increased production. Despite the decline, prices are predicted to remain higher than previous years, according to various global agencies’ outlooks. Demand for thermal coal remains high in certain Asian regions, while Australian coking coal prices are expected to rise according to Fitch Solutions.
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