Petcoke prices in India have remained at highs due to persistence of supply tightness in the key international regions. The market environment has not changed from that in the last week.
Import offers have gone up significantly, and availability of the material became scare in the key international markets.
The latest import offer of Petcoke(6.5% Sulphur) from USA has gone up to around USD 100/MT CFR India; and that of the material (9% Sulphur) from Saudi Arabia has moved up to around USD 90/MT CFR India.
The scarcity of the material in the key import regions, alongwith high import offers have made partial replacement of Non Coking coal with Petcoke more economically viable for Indian users, especially the cement producers.
In the meantime, Indian Petcoke producers have kept their ex-works prices intact at the revisions on 1Oct’16. It may be recalled that Reliance Industries Limited (RIL), the largest Petcoke producer in the country, had hiked its ex-works price by INR 300/MT to INR 6,550/MT with effect from 1 Oct’16. Essar, the second largest producer in the country, also had raised its ex-works price for the material by the same amount to INR 6,540/MT, effective from the same date.
Source: Market Participants
Likewise, Mangalore Refinery and Petrochemicals Limited (MRPL) also has retained its ex-works prices as that in the last revision on 1Oct1’6.
MRPL has quoted its ex-works price for Petcoke at INR 6,164/MT for customers outside the Karnataka state; and for customers within the state, the ex-works price has been quoted at INR 6,089/MT.
IMPORTS
Imports, however, have continued to land at Indian ports. It is to be noted that the import consignments pertain to earlier bookings. According to data compiled by CoalMint Research, 442.39 ‘000MT of Petcoke was imported into India during the 1-14Oct’16 period.
Leave a Reply