Indian Oil Corporation Ltd. (NSE: IOC), the country’s second-largest producer of petroleum coke, has reduced its pet coke prices from various refineries with effect from 3 Nov’18.
Koyali price is revised to INR 8,910/MT from INR 9,220/MT, a reduction of INR 310/MT.
Panipat general price is revised to INR 9,050/MT from INR 9,360/MT, a reduction of INR 310/MT. The revised price for Punjab, Haryana, Jammu & Kashmir, Chandigarh is INR 9,450/MT.
Paradip price is revised to INR 8,690/MT from INR 8,990/MT, a reduction of INR 300/MT.
HPCL-Mittal Energy Ltd. (HMEL) has also revised its pet coke price from Bhatinda refinery to INR 9,625/MT from INR 9,935/MT, a reduction of INR 310/MT.
Price Commentaries
State-run IndianOil has reduced its pet coke price almost in the same range as was reduced by RIL effective 1 Nov’18.
At Panipat, IOC has started declaring a specific price for last few months for Punjab, Haryana, Jammu & Kashmir, Chandigarh, which is at present INR 400/MT higher than the general price.
At Paradip, apart from the auctions, IOC also declares general price for the customers who are interested in buying small quantities.
The price revisions indicate that pet coke prices have already started softening in the Indian domestic market following hefty reduction in the international markets.
It is worthwhile to mention that while IOC Koyali and HMEL Bhatinda refineries have both rake loading and road loading facilities, IOC Panipat has only road loading facility for supply of pet coke.
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