Reliance Industries Ltd. (RIL) has decreased petroleum coke price for this month by INR 250/MT to INR 7,800/MT with effect from 1 May’19, over its previous price of INR 8,050/MT, which was applicable from 1 Apr’19.
Notably in the month of March, RIL had reduced its pet coke price by INR 1,100/MT, in two stages.
Similarly, Nayara Energy (erstwhile Essar Oil) has also revised its pet coke price w.e.f. 2 May’19 to INR 7,790/MT, a decrease of INR 250/MT against its last price of INR 8,040/MT.
Mangalore Refinery & Petrochemicals Ltd. (MRPL) has decreased pet coke price w.e.f. 1 May’19 by INR 160/MT to INR 8,130/MT for road supplies against its last month’s price of INR 8,290/MT.
MRPL’s price for rake/barge supplies has been also decreased by INR 160/MT to INR 7,830/MT against last month price of INR 7,990/MT. Thus, there is an increase of INR 180/MT over MRPL’s last month prices for both road and rail supplies.
Price Commentaries
The current price reduction by RIL – India’s largest pet coke producer – is its third consecutive price reduction in the past two months totaling INR 1,350/MT.
This is mainly due to reduction of pet coke prices in the international market coupled with reduction in import prices of steam coal.
It is further understood that RIL has also booked import of pet coke for its gasification plant and thus have more product to offer in the market. The estimated quantity on domestic offer by RIL is to the tune of 300-350 TMT (Thousand Metric Tons) in this month, which is comparatively higher by about 100 TMT than the previous months.
Nayara Energy typically follows the RIL pricing and generally maintains a difference of INR 10/MT with respect to the RIL price. Hence, its price decrease is by the same amount of INR 250/MT as RIL.
MRPL’s price for rake/barge supplies is lower by INR 300/MT than its price for road supplies, which is the estimated expenditure incurred by the customers to shift the product from the refinery for rake/barge loading.
Leave a Reply