Indian-delivered prices for seaborne petroleum coke have increased further over last month amid persistent supply tightness in the US Gulf Coast (USGC) region, coupled with firm demand outlook in Asian markets.
Notably, Indian imports of petroleum coke had increased 12.9% year on year to 717,500 t in August. India’s domestically-produced pet coke prices have also firmed up over the past few months, following a steady resurgence in end-user demand from cement manufacturing companies.
The current average price of US-origin pet coke (6.5% sulphur) is assessed at around US$ 92-93 per tonne (t) on CNF India basis, compared with US$ 85-86/t in the last fortnight. This indicates an increase of US$ 7/t over the past two-week period.
Offers for Saudi-origin pet coke (9% sulphur) are presently hovering in the range of US$ 87-88/t CNF India, as against the earlier price of around US$ 81-82/t. This indicates an increase of US$ 6/t in last two weeks.
The USGC FOB price of pet coke (6% sulphur) – widely accepted as reference across international markets – has increased by US$ 6/t to US$ 56-57/t, over the price of US$ 50-51/t prevailing in the last fortnight.
Average shipping freight rates from USGC to Indian ports for Supramax vessel (50,000-55,000 tons deadweight (DWT)) are currently assessed at US$ 35/t.
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