- Maintenance shutdown ends, supply improves
- Imported petcoke prices fall by $17/t in May
Nayara Energy Ltd (NEL) reduced its petcoke price by INR 1,670/t to INR 19,330/t, effective 1 June 2026, partially reversing the sharp increases seen in previous months. The latest revision represents an 8% decline from May levels of INR 21,000/t.
The correction follows easing supply concerns after Nayara completed its 5-6 week refinery shutdown, which had previously restricted domestic petcoke availability and supported higher prices. Market participants indicated that production and supply conditions have gradually improved following the restart of operations.
Imported petcoke prices also softened during May, providing additional pressure on domestic pricing. As per BigMint’s assessments, average US-origin 6.5% sulphur petcoke prices, CNF Vizag, declined by $17/t to around $149/t in May from $166/t in April, reflecting weaker buying interest and improving supply availability.
Despite the monthly correction, petcoke prices remained significantly above year-ago levels. Nayara’s June price of INR 19,330/t was still around 46.8% higher y-o-y compared with INR 13,170/t in June 2025.
Market participants noted that global energy markets remained influenced by geopolitical developments surrounding the US-Iran situation, which continued affecting freight costs, marine insurance premiums, and crude oil flows. However, compared with April and May, market volatility eased slightly as supply concerns moderated.
Overall, the latest price cut reflected improving domestic availability and softer imported petcoke prices, although market levels remain elevated compared with historical averages.
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