Petcoke prices in India have remained stable amid strong demand and high import offers.
IMPORT OFFERS STILL AT HIGHS
Import Offers of Petcoke underwent no correction as severe supply tightness continued to persist.
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.
In the regions, the material is also not available for immediate shipment. Imports booked against these offers will be shipped tentatively in Nov’16.
However, there has been a slight improvement in supply in the Yanbu region of Saudi Arabia recently, as learnt in a conversation with a reputed importer.
ROBUST DEMAND CONTINUES TO PREVAIL IN INDIA
Robust demand has prevailed in the Indian market. Apart from demand from the cement industry that was strong, purchases by the plastics and dye segments were also substantially strong, as learnt in conversations with some reputed traders in the country.
Indian producers have retained their ex-works price, as revised on 1 Sep’16, when, Reliance Industries Limited (RIL) and Essar had revised their ex-works prices upwards to INR 6,250/MT and INR 6,240/MT respectively. RIL and Essar are the largest and the second largest producers in the country.
Source: Market Participants
Also, there was no supply disruption during the week, with domestic producers having supplied the material constantly.
In the meantime, Mangalore Refinery and Petrochemicals Limited (MRPL) has priced its Petcoke at INR 5,641/MT(ex-works).
IMPORTS
Import consignments continue to land at Indian ports. According to data compiled by CoalMint Research, 860.08 TMT of Petcoke was imported into the country during the first half days of Sep’16.
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