The Petcoke market in India has remained almost in the same state as in the week last. Strong demand and stable domestic prices have continued to rule in the market.
IMPORT OFFERS CONTINUE TO HOVER HIGH
Persistence of severe shortage in the key international markets has kept the import offers at record high. According to a reputed importer, the latest imports offers of Petcoke (9% Sulphur) from Saudi Arabia were at around USD 86/MT CFR India; and that of the material (6.5% Sulphur) from USA were at around USD 88/MT CFR India.
As a consequence of the tight supply in the key international markets, the material is not available for immediate shipment for imports booked against these offers. Imports against these offers will be shipped towards the end of Nov’16.
DOMESTIC PRICES UNCHANGED
There was no change in the ex-works prices of domestic producers during the week last. It may be recalled that effective from 1 Sep’16, Reliance Industries Limited, the largest producer in the country, has raised its ex-works price by INR 150/MT to INR 6,250/MT; and, Essar, the second largest producer in the country, also has hiked its ex-works price by the same amount to INR 6,240/MT.
Source: Market Participants
Domestic supply also has been better as the producers supplied the material uninterruptedly. While, strong demand has continued to persist, with the cement companies continuing to use Petcoke as the main fuel.
IMPORTS
Petcoke import consignments, pertaining to earlier bookings, have continued to land at Indian ports. During the 1-6 Sep’16 period, 280.94 TMT of the material was imported into the country, according to data collected by CoalMint Research.
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