Pet coke prices have remained sharply high over the past few weeks as the global market has sustained robust demand; hence, there has been no significant change in the pet coke export offers from the key overseas markets — USA and Saudi Arabia.
However in India, domestic traders expect prices, particularly of the US origin pet coke, to correct downwards in recent weeks.
Moreover, buyers are currently not in a hurry to procure any fresh cargoes as they expect pet coke prices to soften going forward.
Furthermore, demand for pet coke is slowing due to higher landed prices as a result of high dry bulk freight rates.
PRICE ASSESSMENTS
The latest offers for pet coke (6.5% sulphur) from USA are assessed at around USD 122/MT CNF India, while offers for pet coke (9% sulphur) from Saudi Arabia are assessed at around USD 114/MT CNF India.
Currently, Indian domestic prices of pet coke are INR 9,450/MT (Reliance Industries Ltd.; w.e.f. 17 Sep’18) and INR 8,320/MT (Mangalore Refinery and Petrochemicals Ltd.; w.e.f. 1 Sep’18).
N.B.:
i. The above prices are exclusive of GST @18%.
ii. The MRPL price is for pet coke transported by rake/barge.
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