The Petcoke market in India is back to full-fledged business.
Strong demand is prevailing, keeping the prices at highs. And despite high prices, purchases are active as the main users of the refinery by-product are using it as their prime fuel.
Traders spoken to by CoalMint said that the purchases were strong and there was no prospect for any downturn in the demand in the near term.
Strong international demand has restricted the global offers from drifting downwards. Moreover, supply tightness in USA due to refinery maintenances also has ruled out the impact of any factor in influencing downward movement in the offers.
The latest offer for Petcoke (6.5% Sulphur) from USA is assessed at around USD 106/MT CFR India, hovered at the week-ago level. Likewise, the recent offer for Petcoke (9% Sulphur) from Saudi Arabia is also assessed at that in the week-last, at around USD 98/MT CFR India.
Source: CoalMint Research
There was no change in the ex-works prices of the Indian refineries during the last seven days. The prices were recently hiked in view of the strengthening demand.
Reliance Industries Limited, the largest Petcoke producer in the country, has quoted its ex-works price at INR 8,350/MT. Essar, the second largest producer in India, has set its ex-works at INR 8,335/MT.
Source: CoalMint Research
Mangalore Refinery and Petrochemicals Limited has fixed its ex-works prices at INR 6,870/MT.
The imports are expected to regain momentum as the users were learnt to book substantial imports. In Jan’18, there was a shrinkage in the imports as the buyers had halted their booking in Dec’17 due to the uncertainty emanating from the prospect of a complete ban on the usage of the fuel. In Jan’18, around 0.50 MnT of Petcoke was imported in the country against the imports of around 1,05 MnT in Dec’17.
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