Reliance Industries Limited (RIL) has increased petroleum coke price with effect from 1st March 2020 to INR 6,790/MT, over its last month’s price of INR 6,572/MT, which’s an increase of INR 218/MT.
Nayara Energy (erstwhile Essar Oil) has also increased pet coke price to INR 6,795/MT, over its last month’s price of INR 6,575/MT, an increase of INR 220/MT.
Price Commentaries
The increase of INR 220/MT is in the tune of increase of pet coke prices in the international markets. Notably, Indian domestic pet coke price was at its highest level of INR 9,175/MT in March 2019. It then started reducing and came down to INR 6,172/MT in November 2019.
Since November 2019, the price started increasing, by INR 400/MT in Feb’20, and this month by another INR 220/MT approximately.
The trend was on expected lines and is mainly due to increase in demand in the last month of FY 2019-20. Pet coke demand is expected to remain firm in the coming months due to increase in demand by the cement industries. In the long-term also, it is expected to support the demand by cement industry which has a support due to consumption in various infrastructural activities.
The price of Nayara Energy continues to be in tune with RIL’s price and generally varies up to INR 10/MT with respect to RIL.
Indian Oil Corporation Limited (IOCL), the country’s second-largest pet coke producer, is yet to revise prices from its various refineries.
Mangalore Refinery & Petrochemicals Ltd. (MRPL)’s petroleum coke prices are INR 5,590/MT (Road) and INR 5,290/MT (Rake/Barge).
N.B.:
i. The above prices are effective from 16th February 2020
ii. These prices are exclusive of GST @18%
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