Indian Oil Corporation Ltd. (NSE: IOC), the country’s second-largest producer of petroleum coke, has increased its pet coke prices from various refineries with effect from 7 Mar’19.
Koyali price by road is increased to INR 8,810/MT from INR 8,510/MT, an increase of INR 300/MT. The rake price is increased to INR 8,610/MT from INR 8,310/MT, which is also an increase of INR 300/MT.
Panipat general price is increased to INR 8,750/MT from INR 8,450/MT, an increase of INR 300/MT. However, price for Punjab, Haryana, Jammu & Kashmir, Chandigarh is increased to INR 9,350/MT from INR 8,950/MT, an increase of INR 400/MT.
Paradip price for road supplies is increased to INR 8,420/MT from INR 8,210/MT, an increase of INR 210/MT. Similarly, the rake price is increased to INR 8,120/MT from INR 7,910/MT, which is lower by INR 300/MT than price applicable for road supplies.
HPCL-Mittal Energy Ltd. (HMEL) has also increased its pet coke price from Bhatinda refinery to INR 10,250/MT from INR 9,750/MT, an increase of INR 500/MT.
Price Commentaries
State-run Indian Oil has typically followed the pricing trend set by RIL for the month of March’19, by increasing prices of pet coke produced in its various refineries, though with varying amounts.
At Panipat, increase in pet coke price for Punjab, Haryana, Jammu & Kashmir, Chandigarh is higher by INR 400/MT, as compared to the increase of INR 300/MT for other states as general price.
At Paradip, IOC has also declared rake price after commissioning of rake facility on 29 Nov’18. The rake price is lower by INR 300/MT than the general price.
Presently, about 4-5 rakes are being supplied from Paradip in a month. This is expected to increase gradually in coming months after streamlining of rake placement.
The price increase by HMEL is more pronounced as compared to RIL or IOC Panipat, possibly considering the lower availability of the product in the northern market due to ongoing shutdown of Delayed Coker Unit (DCU) of IOC Paradip.
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