All anxieties in the Indian Petcoke market are now over. The Supreme Court has eventually relaxed its ban on usage of Petcoke, allowing from today the cement and lime industries to use the refinery derived petroleum byproduct.
At the same time, the apex court has also asked the Ministry of Environment, Forests and Climatic Change (MoEF&CC) to consult all the stake holders on the issue of imports of Petcoke. The Ministry was heard to be considering imposing ban on imports of Petcoke, and instead wants to encourage the usage of the domestically produced refinery byproduct.
The relaxation of the ban would mean that Petcoke trading will gain momentum from now on, as the cement producers principally use it, mainly on account of its higher calorific value, which lies at around 7,600 GAR.
Also, the offers from the key international markets will go up as import bookings will resume. Offers of Petcoke(6.5% Sulphur) from USA went down to around USD 93/MT CFR India; and offers of Petcoke(9% Sulphur) dropped to around USD 90/MT CFR India due to the ban was in place.
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