Demonetization has continued to keep the Indian Petcoke market dull, and the domestic prices stayed stable.
A reputed Petcoke trader, in a conversation with CoalMint, said that trading was low to the extent of 40% on account of buyers not having enough liquidity due to demonetization.
Another North Indian trader told CoalMint that temporary shut-down of several user-factories also compounded to the low demand situation.
In the meantime, import offers have remained at the rates assessed the week last. The prevailing import offers for Petcoke(6.5% Sulphur) from USA and the material (9% Sulphur) from Saudi Arabia are at: USD 104/MT CFR India and USD 90/MT CFR India respectively.
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
IMPORTS
Petcoke imports have somewhat declined due to the tight supply situation in the key overseas markets. According to data compiled by CoalMint Research, around 547.78 ‘000MT of the material was imported into India during the 1-23 Dec’16 period.
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