Pet coke prices are unchanged in India, after the last price revision by domestic producers.
On 1 Feb’16, domestic producers had raised their ex-work prices, seemingly due to shortages in the domestic market, arising from vigorous domestic purchases.
Reliance Industries Limited, the largest producer in the country, had raised its ex-work price by INR 300/MT to INR 3,800/MT. Essar, the country’s second largest producer, also had hiked its ex-work price by the same amount to INR 3,790/MT.
Given the current international market scenario, there seems to be no prospect of further price hikes by domestic producers in the near term. Import offers from key international markets have gone down further as exporters have cut prices due to over-supply, as heard.
According to a prominent importer, import offers for Pet coke (with around 6.5% Sulphur content) from USA have gone down to USD 39-41/MT CFR India. Offers (for materials with around 9% Sulphur content) from Saudi Arabia are quoted at USD 34-36/MT CFR India,according to the importer.
In the meantime, Pet coke demand continued to be strong in the country, with active purchases going on in domestic markets, and imports continuing to land at Indian ports.
During the first and current weeks of Feb’16, 49, 9600 MT of import has landed at Indian ports, according to SteelMint Research. Shree Cement, Ambuja Cement, Dalmia Cement and Ramco Cement were among the top importers during the period, SteelMint Research shows.
Besides, influx of imports is expected to continue as Indian buyers are likely to take advantage of low offers.
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