Stable prices continued to prevail in Indian Pet coke market.
Also, demand remains active as prices are low and active production activities are going on in the end-user industries; necessitating constant fuel purchases.
The basic price of Pet coke stagnated at INR 3,700/MT as domestic producers have not revised their ex-work prices after the last price revision on 25 Nov’15.
According to an official of a leading cement producer in the country, Pet coke exporters in Saudi Arabia have cut their offers by USD 2/MT to USD 40/MT, CFR India. While, offers from the US are still at around USD 48-50/MT, CFR India.
Some traders said that they don’t foresee any further price decrement in the coming days and demand is likely to remain active.
In the meantime, imports continued to enter into the country as buyers are taking advantage of low prices in the overseas markets. During the period of 1-13 Dec’15, 173,900 MT of Pet coke had landed at Indian ports from the Middle East and US, according to SteelMint’s data analysis.
The Government of India has revised the Customs Exchange Rate for imports to INR 67.20 per USD, effective from today. And, INR is valued today at 66.40 per USD.
Leave a Reply