Reliance Industries Limited (RIL) has maintained its petroleum coke price for January at INR 6,172/MT.
Nayara Energy (erstwhile Essar Oil) has reduced its pet coke price to INR 6,165/MT, as compared to last month’s price of INR 6,890/MT.
Price Commentaries
Notably, this price has been rolled over for the third month starting from November 2019. Earlier last year, there have been several price reductions by RIL from March onwards. From the highest level of INR 9,175/MT RIL’s pet coke price is now stable at INR 6,175/MT, thereby marking a total reduction of INR 2,975/MT.
Indian demand for pet coke is expected to increase gradually in line with the country’s growing cement demand due to increased consumption in various infrastructural activities. Hence, this may give momentum to the domestically produced pet coke prices in the coming months as demand for the fuel rises.
Nayara Energy typically follows the RIL price and generally keeps its price lower by INR 10/MT with respect to RIL.
IndianOil (IOC), the country’s second-largest pet coke producer, is yet to revise its monthly price from various refineries.
Leave a Reply