India’s pet coke imports dropped 30% m-o-m to 0.62 million tonnes (mnt) in January 2024 as against 0.88 mnt in December’23, as per CoalMint data. Imports dropped on a yearly basis, too, compared with 0.85 mnt in January 2023.
Country-wise imports
The US recorded the highest pet coke exports to India in January. Imports from the US, however, dropped by 49% m-o-m at 0.28 mnt in January as against 0.55 mnt in December. Imports from Saudi Arabia were at 0.16 mnt, up 50% m-o-m. Imports from Oman rose by 17% m-o-m to 70,000 t in January as against 60,000 t in December.
Company-wise imports
Ultratech cement recorded the highest imports at 0.17 mnt in January, up threefold m-o-m. Ambuja Cement recorded the second-highest imports at 0.16 mnt followed by JK Cement at 90,000 t.
Pet coke prices
BPCL has revised pet coke prices from its various refineries for February shipments. Current prices-
Bina refinery: INR 14,042/t (for rail supply) and INR 13,992/t (for road supply), down INR 619/t.
Kochi refinery: INR 11,569/t (for rail supply), down INR 507/t. There is no road supply for pet coke from Kochi. The material availability at Kochi is estimated at around 75,000- 80,000 t.
RIL has rolled over pet coke prices at INR 13,172/t, in line with the January sales price. Current prices are lower by around 25.7% compared to same period last year. RIL releases very limited quantities of pet coke in the market as they a utilise major portion of it in their gasification unit.
Average prices of pet coke imported to India from the US dropped 8% m-o-m to $116.1/t in January as against $127.1/t in December towards the west coast of India.
Port-wise imports
Kandla recorded the highest level of imports at 0.22 mnt in January 2024 compared with 0.220 mnt in December 2023. Mundra recorded imports at 0.12 mnt (down 31% m-o-m) for the month of January 2024. Gangavaram imported about 0.11 mnt
Outlook
Pet coke imports may pick up in the coming months on improved industrial activities which favour purchases by cement industries. Also, the drop in prices may trigger imports.