The Indian Petcoke market has remained almost identical with that in the week last. Domestic prices have stood still, and import offers stayed at highs.
The latest import offer for Petcoke (6.5% Sulphur) from USA was assessed at around USD 104/MT CFR India; while, that for the material (9% Sulphur) from Saudi Arabia at around USD 90/MT CFR India.
Meanwhile, Indian producers have retained their ex-works prices as revised on 1 Nov’16. The ruling domestic ex-works prices of Petcoke are: INR 6,350/MT (Reliance Industries Limited ) and INR 6,340/MT (Essar).
Source: Market Participants
Demand in the country has also moderately shrunk due to the demonetization. Also, several user-industries were not functioning at full rates, lowering demand for the fuel.
PRODUCTION
Petcoke production has been increasing in the country. The rising production was driven by strong consumption within the country. High prices alongwith shortages in the key international markets have maintained strong demand for the domestic material.
In Nov’16, 1,134 ‘000MT of Petcoke was produced in the country. The production was higher by around 1.4% than the production of 1,119 ‘000MT in Oct’16.
Source: Industry
During the Apr-Nov’16 period, 8,500 ‘000MT of Petcoke was produced in the country.
IMPORTS
Petcoke imports have continued to enter into the country. During the 1-16 Dec’16 period, 446.48 ‘000MT of Petcoke had landed at the Indian ports, data compiled by CoalMint Research shows.
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