Lately there has been no significant change in the petcoke export offers from the key overseas markets — USA and Saudi Arabia.
The global petcoke market has sustained robust demand as result of supply tightness in both USA and Saudi Arabia. International prices of global fuel-grade petcoke have been consistently high since the start of this year. Notably, the price of petcoke imported from the US reached a multi-year high of USD 118/MT in Mar’18.
Even though the increased prices may not substantially decrease the consumption of petcoke in India, however, analysts predict that the pace of demand growth for the fuel could slack off eventually.
Furthermore, most Indian petcoke buyers have now reduced booking imports in view of the uncertainty looming over the future usage of the material due to its possible all India ban by the government. The decision is expected to be announced within this month.
The latest offers for petcoke (6.5% sulfur) from USA are assessed at around USD 113/MT CFR, and the recent offers for petcoke (9% sulfur) from Saudi Arabia are assessed at around USD 110/MT CFR; both these offers have remained stable since the last three weeks.
In India, Reliance Industries Limited (RIL), the country’s largest petcoke producer, has raised its ex-works price, with effect from 1May’18, by INR 100/MT to INR 9,050/MT. However, the other domestic refineries did not revise their prices during the last week.
The prevailing domestic petcoke prices in India are: INR 9,040/MT (Essar) and INR 8,230/MT (Mangalore Refinery and Petrochemicals Limited).
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