India’s pet coke imports stood at 1.09 million tonnes (mnt) in October 2022, up by 45% m-o-m, as per CoalMint data. The rise in imports can be attributed to increasing construction and infrastructural activities post monsoons.
Imports in January-October this year also surged 138% compared to the same period last year. Last year, the country was reeling under the impact of Covid-induced lockdowns, leading to a drop in construction activities.
Imports from USA spike
Qty in mnt
Imports from USA were the highest at 0.59 mnt in October, a 125% m-o-m rise. Following this was China and Saudi Arabia at 0.04 mnt and 0.33 mnt respectively. Shipments from Venezuela decreased by 60% m-o-m to 50,000 t. Although of good quality, the delay in Venezuelan vessel arrivals due to limited berthing facilities at Indian ports impacted shipment volumes. The turnaround time of a vessel coming from Venezuela is around three months and that from Saudi Arabia is around 20 days.
Company-wise imports
Qty in mnt
Ultratech Cement imported 3,40,000 t in October against nil shipments in September. Meanwhile, other major cement companies’ imports fell on a m-o-m basis.
Imported pet coke prices
The average pet coke prices rose 13% ($23) m-o-m to $194/t CFR India amid increased demand.
Amid elevated thermal coal prices this year, Indian cement manufacturers are preferring to use pet coke as it is 30-35% cheaper compared to Russian and Australian thermal coal.
Outlook
Real estate bookings remain supportive, and infrastructure spending by the government is expected to be strong, driving cement and its raw material requirement. The only factor that can impact pet coke demand is a dramatic fall in global thermal coal prices.
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