The Petcoke market in India has been under the grip of uncertainty, arising from the imminent change in market dynamics on account of implementation of Goods and Services Tax (GST), from the onset of July, and the NGT directive becoming fully functional after the next month.
However, there has been no change in the international offers as compared with those the week last. The current offers for Petcoke (9% Sulphur) from Saudi Arabia is assessed at USD 92/MT CFR India. The recent offer for Petcoke (6.5% Sulphur) from USA is assessed at USD 95/MT CFR India.
Traders, spoken to by CoalMint, said the demand weakened as users were lowering their purchases.
There was also no price revision by any domestic refinery during the week.
The prevailing ex-works prices of Reliance Industries Limited, the largest producer in the country, is at INR 7,250/MT; and that of Essar, the second largest producer, is at INR 7,245/MT.
Mangalore Refinery and Petrochemicals Limited (MRPL) has quoted its ex-works price at INR 6,239/MT for customers outside the state of Karnataka; and for customers within the state, the ex-price is quoted at INR 6,139/MT.
Leave a Reply