Indian Pet coke prices remained stable this week with strong demand in market.
Domestic producers have kept their ex-work prices unchanged. Reliance Industries, India’s largest producer, had last revised its ex-work price to INR 3,700/MT, lowering by INR 700/MT on 25 Nov’15. The downward revision was due to falling import offers from key international regions.
According to an official of a reputed cement company, Pet coke offers from Saudi Arabia have stabilized at around USD 42/MT, CFR India. While, offers from US are around USD 46/MT, CFR India.
Import continued to dominate among buyers in the country, driven by low prices in overseas markets. During Nov’15, import into the country was recorded at 793,100 MT; marginally lower than import during Oct’15at 854,550 MT.
Although, Saudi Arabia and US were the prominent regions of import during Nov’15, substantial import was also procured from China and other Middle Eastern regions.
Pet coke import into India in Nov’15
| Country | Quantity in MT |
| China | 101,100 |
| Saudi Arabia | 158,500 |
| USA | 350,700 |
| UAE | 98,300 |
| South Africa | 69,500 |
| Indonesia | 15,000 |
| Total | 793,100 |
Source: SteelMint Research
Imports as well as domestic purchases are expected to remain strong in the coming days as prices are low and active manufacturing of end-products, especially cement, is going on in the country.
In the meantime, the Indian government has hiked the Customs Exchange Rate for import to 67.25 per USD w.e.f today from the preceding rate of 66.70 per USD.INR is valued today at 66.81 against USD.
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