All the major Indian pet coke refineries have reduced their prices for the second consecutive month in Jan’22, CoalMint learnt from sources. This price drop has come in line with decline in imported pet coke and thermal coal prices that are used as alternatives to pet coke.
Bharat Petroleum Corporation Limited (BPCL) has reduced its prices by INR 2,600-3,600/tonne (t).
*Price in INR/t
*There is no road mode for Kochi
At the Bina refinery, the availability of pet coke remains limited due to the consumption at its captive power plant (CPP). They are offering about 20,000 tonnes (t) of pet coke per month in the market which was about 40,000 t per month prior to the commissioning of the CPP.
RIL and Nayra Energy
Reliance Energy Limited (RIL) has reduced its pet coke prices by INR 1,696/t m-o-m basis for Jan’22 whereas another refinery, Nayra Energy, has reduced the same by INR 1,689/t.
*Price in INR/t
MRPL
Mangalore Refinery Petrochemicals Ltd has reduced its prices by INR 770/t m-o-m basis for Jan’22.
*Price in INR/t
MRPL has maintained the price difference of INR 300/t between its road and rake modes, which is the approximate expenditure incurred by a customer for shifting the material from refinery to rake/barge loading area.
Outlook
Pet coke demand in India has picked up from Dec’21 onwards and will continue till Jun’22. As the government is giving a push to various infrastructure projects, for which cement is the main component, demand of pet coke by this (cement) industry is also expected to increase. In terms of prices, market participants are of the opinion that in case global thermal coal prices go up once again due to unforeseen events, domestic pet coke prices would see a rise in the upcoming month.
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