Active demand continued to prevail in Indian Pet coke market as prices remained either low or stable.
Ex-work prices of domestic producers alongwith import offers has undergone no change from the last assessment.
Reliance Industries, India’s largest producer, had last revised its ex-work price to INR 3,500/MT on 31 Dec’15.
According to a reputed importer, offers for Pet coke (with around 9% Sulphur content) from Saudi Arabia are unchanged at USD 38-39/MT, CFR India. While, offers (with around 6.5% Sulphur content) from US are assessed at USD 47-48/MT, CFR India.
Prevalence of low domestic prices has turned many buyers away from overseas market to home market. An official of a reputed cement manufacturer said that they have stopped importing as prices in domestic market were low enough to justify purchases from the home market.
However, low import offers have continued to attract Indian buyers and imports have landed at Indian ports as a result of bookings by Indian buyers. SteelMint data shows that 7, 26,650 MT of Pet coke has already been imported into the country during the 1st half of Jan’16, mostly by cement manufacturers. The prominent import regions were Saudi Arabia and US, the data shows.
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