The Petcoke market in India has remained unchanged from that the week last. Domestic ex-works prices were stable, international offers were unchanged and strong demand prevailed.
However, there was an uncertainty among some market participants over the grim prospect of usage of Petcoke in the near future, on account of the recent directive of the National Green Tribunal (NGT).
Some of the market participants speculated that imports of Petcoke will go down in the country, as the demand from the user-industries, which have the requisite permission for using the fuel, could be met by the domestic supplies of the country’s refineries.
However, the future market picture is quite hazy, and the actual picture could be ascertained only after July’17, when the NGT directive will come into play.
There has been no deviation in the Petcoke offers from the key international markets. The latest offer for Petcoke (6.5% Sulphur) from USA is reported at around USD 94/MT CFR India. And the recent offer for Petcoke (9% Sulphur) from Saudi Arabia is reported at around USD 92/MT CFR India.
Source: CoalMint Research
Demand has continued to remain strong as the user-industries purchased the fuel on a continuous basis. 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 Karnataka state; and for customers outside the state, the ex-price is quoted at INR 6,139/MT.
Source: CoalMint Research
IMPORTS
Petcoke imports in India have shown a soft trend. During the 1-17Jun’17 period, an insignificant quantity of 253,760 MT was imported in India, data collected by CoalMint Research shows.
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