Indian Oil Corporation Ltd (IOC), the country’s second-largest petroleum (pet) coke producer, has revised prices from its various refineries with effect from 12 Dec’21.
| Koyali (Road) |
Koyali (Rake) |
Panipat (General) |
Paradip (Road) |
Paradip (Rake) |
Haldia (Road) |
Haldia (Rake) |
|
| Previous | 17,930 | 17,730 | 18,840 | 17,130 | 16,930 | 17,300 | 17,100 |
| Current | 16,300 | 16,100 | 17,210 | 15,210 | 15,010 | 15,680 | 15,480 |
| Change | 1,630 | 1,630 | 1,630 | 1,920 | 1,920 | 1,620 | 1,620 |
At IndianOil’s Panipat refinery, the price for northern states and general price continue to remain the same.
IOC’s pet coke prices for rake delivery are lower by INR 200/t uniformly at Koyali, Paradip and Haldia refineries as compared to prices applicable for road supply at the respective refineries.
Price commentaries
IOCL has gone for a reduction of over INR 1,630 as against a sharper reduction by Reliance Industries Limited (RIL) by INR 5,101/t. However, considering both the revisions of IOC in Nov’21, the total reduction is INR 4,350/t.
Notably, IOC had gone for mid-term revisions for its pet coke prices in the previous month of Oct’21 as well.
However, Nayara Energy has gone for a moderate reduction in prices this month by INR 1,000/t as it has already revised the price by INR 4,150/t on 23 Nov’21. Thus, the total reduction is by INR 5,150/t, which is similar to the price reduction of INR 5,101/t by RIL.
The above revisions by major refineries are in line with correction in imported pet coke prices that have come down by $50/t in past one month. Also, the fuel demand from cement sector has turned sluggish since last due to construction ban in north, sand mining issues in the eastern region, heavy rains in parts of South India, and limited labour availability.
In the coming month also, CoalMint expects a further correction in domestic pet coke prices as the peaks in imported fuel prices are over while bearish demand sentiments are likely to continue in cement sector.
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