Reliance Industries Ltd. (RIL) has raised pet coke prices to an all-time high of INR 21,816/t for Apr’22, up by INR 3,836/t m-o-m. This marks a 95% y-o-y increase in RIL’s pet coke price as global thermal coal prices remain elevated amid supply constraints and geopolitical uncertainty. Other refineries may also raise pet coke prices as RIL’s prices are taken as the benchmark due to the company’s higher market share.
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