Petcoke Prices Likely to Go Up in India as Stocks Deplete

Petcoke prices have remained stable in the absence of any price revision by domestic producers in India.

On 1 Mar’16, Indian producers had last revised their ex-work prices to INR 4,000/MT(Reliance Industries) and INR 3,990/MT(Essar).

Recent rise in crude oil prices has caused import offers to reverse the falling trend exhibited during the preceding months. According to a reputed importer, offers of Petcoke (with around 9% Sulphur content) from Saudi Arabia have gone up to around USD 42/MT, CFR India. While that for US-origin material(with around 6.5% Sulphur content) have moved up to around USD 45/MT, CFR India.

In the meantime, demand continues to be strong in the country as active production is going on across all sections of end-user segments.

Some market participants, spoken to by CoalMint,revealed that they speculate upward revisions in prices by domestic producers in the next price revisions as stocks were low due to active purchases.

In the meantime, imports continued to enter into the country. During the current month, 273,600 MT was imported upto 14Mar’16, according to SteelMint Research.

The Government of India has revised the Customs Exchange Rate to INR 67.45 per USD with effect from today.