Anode grade coke prices continued to remain high in April 2022 amid strong buying appetite from Chinese traders as demand for electric vehicle batteries remained robust in the country.
The prices of China’s low-sulphur coke (less than 1%) was higher at $1,050-1,060/t. However, no cargoes were available for exports last month amid lockdown restrictions.
Domestic prices for coke with 2% and 3% sulphur were at 880-890/t and 850-860/t respectively in the country.
Anode grade coke prices continued to remain higher due ot the government’s efforts to improve air quality. Furthermore, uncertainty due to the Russia-Ukraine conflict contributed to the rise in anode coke prices.
Anode grade coke is mainly used in manufacturing calcined pet coke, a raw material for the aluminum industry.
Key global deals
Amid rising prices, a cargo from Argentina YPF refinery with 0.8% sulphur was heard sold at $790-800/t FOB.
One of India’s leading calcined pet coke producers, Goa Carbon, recently booked a 15,000 t of high-sulphur anode coke cargo from China at $291/t. The freight rate for the vessel was $73/t.
In another deal, 10,000 t cargo from the Dumai refinery in Indonesia was finalised by Goa Carbon at $928/t on FOB basis, with the applicable freight rate at $74/t.
On the domestic front, the prices of IOCL continued to remain the same in April, while pries at other refineries were in the range of $705-765/t.
Numaligarh Refinery Ltd. (NRL) also floated a tender for 10,000 t of refined petroleum coke in the beginning of this month.
Calcined pet coke offers surge
Notably, tighter availability continued to keep Chinese calcined petroleum coke (CPC) prices high as present offers in the country were in the range of $1,100/t FOB.
Owing to the spurt in prices, there haven’t been any import shipments for Vedanta or Hindalco.
CPC prices in India also inched higher following a sharp rise in raw petroleum coke prices since early April, whereas Indian calciners sold domestic CPC with low sulphur (less than 1%) at INR 90,000-92,000/t.
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