Seaborne petroleum coke (pet coke) import prices have fallen to the tune of about US$ 8-10/mt in the current month on CFR India basis; however, there has been no change of pet coke prices in the domestic market.
The following price chart illustrates the detailed pricings of India’s major domestic pet coke producers including Reliance Industries.
Source: CoalMint Research
FREIGHT RATES
CoalMint assessed the latest pet coke freight rate for a Supramax vessel (Cargo Intake 55,000 mt) from Port Houston in Texas to Visakhapatnam Port, Andhra Pradesh at $32.32/mt, down $1.52/mt M-o-M.
The freight rate for a Supramax vessel to move pet coke from Newport News, Virginia to Vizag was assessed at $34.51/mt, up $0.33/mt W-o-W and down $1.31/mt M-o-M.
Further, as there has been a decrease in currency exchange rate of the US Dollar against the Indian Rupee, it has also contributed towards softening of the pet coke import prices.
PRICE ASSESSMENTS
Latest import offers for the US (6.5% Sulphur) pet coke are assessed to be varying in the range of USD 95-96/MT CNF India, as compared to USD 105-106/MT in the previous month.
Pet coke (9% Sulphur) from Saudi Arabia is at present being offered at around USD 88-89/MT CNF India, as compared to USD 96-97/MT in the previous month.
N.B.: It is also understood that certain major customers may have term contracts for import, which varies with the spot cargo rates, resulting in a variation of pet coke prices in the market.
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