Petcoke prices in India have increased by INR 350/MT, the first price increment by the country’s producers in 2017.
INDIAN PRODUCERS RAISE PRICES
Responding to the strengthening demand in India, refineries have raised their prices with the onset of the new fiscal, FY18.
Reliance Industries Limited (RIL), the largest producer in the country, has raised its ex-works price by INR 350/MT to INR 6,700/MT. Essar, the country’s second largest producer, also have raised its ex-works price by the same amount to INR 6,690/MT.
Source: CoalMint Research
Also, Mangalore Refinery and Petrochemicals Limited (MRPL) has raised its ex-works price by INR 116/MT. The company has quoted its ex-works price at INR 5,910/MT for customers outside the Karnataka state; and for buyers outside the state, the price is quoted at INR 5,810/MT.
On the demand side, Petcoke consumption has picked up in the country. Every user-sector has resumed Petcoke purchases, according to traders spoken to by CoalMint.
OFFERS MOVE MARGINALLY
International offers are assessed marginally lower. The latest offer for Petcoke (6.5% Sulphur) from USA is assessed marginally lower at USD 96-97/MT CFR India, while, the recent offer for Petcoke(9% Sulphur) from Saudi Arabia is assessed moderately down at USD 89-90/MT CFR India.
Source: CoalMint Research
PRODUCTION
Petcoke production in the country is on a full-swing mode to cater to the active demand. During the Apr-Feb’17 period, 11,756 ‘000MT of Petcoke was produced in India. Although, the production data for Mar’17 is not available with CoalMint at the time of writing this article, yet a predictive model, developed by CoalMint Research, shows that around 1,080 ‘000MT of Petcoke was likely to be produced in the country in Mar’17.
Source: CoalMint Research
IMPORTS
Petcoke imports have continued to enter into the country. During the 1-30Mar’17 period, around 0.86 MnT of Petcoke was imported into India, data compiled by CoalMint Research shows.
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