MSTC Ltd., on behalf of Indian Oil Corporation Ltd. (IOCL), conducted its monthly e-auction yesterday (6 Jul’18), for selling 90,000 MT of petroleum coke from IOCL’s 11th oil refinery at Paradip in Odisha.
However, only 80,000 MT out of the entire lot quantity of pet coke was sold out to major cement companies at a reserve price of INR 7,800, which was kept unchanged as compared to the last auction held on 3 Jul’18.
This sluggish auction activity is quite baffling since the Supreme Court has allowed import of pet coke for cement, limestone and calcium carbide industries.
Meanwhile, on the pricing front, pet coke import offers to India are at all-time highs — latest offers for pet coke (6.5% sulfur) from USA are assessed at around USD 125/MT CNF India, while offers for pet coke (9% sulfur) from Saudi Arabia are assessed at around USD 119/MT CNF India.
Source: CoalMint Research
Indian domestic producers, Reliance Industries Ltd. (RIL) and Mangalore Refinery & Petrochemicals Ltd. (MRPL) have hiked their pet coke prices to INR 9,950/MT and INR 8,750/MT respectively.
N.B.:
i. The above prices are effective 1 Aug’18.
ii. These prices are exclusive of GST @18%.
iii. The MRPL price is for pet coke transported by rake/barge.
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