India: Pet coke imports decline 8% m-o-m in Apr’25 amid reduced shipments from US

• Ultratech Cement leads among importers
• US tags drop $11/t m-o-m, Saudi down $2/t

India’s total pet coke imports in April 2025 dropped by 8.3% to 1.1 million tonnes (mnt) from 1.2 mnt in March 2025. The decline was mainly attributed to a reduction in imports from the US, although other key supply regions such as Saudi Arabia saw growth.

US exports decline, Saudi Arabia rises

The US, India’s largest pet coke supplier, saw its exports to India decrease by 42.9% to 0.4 mnt in April, compared to 0.7 mnt in March. This drop was partially offset by a 50% increase in imports from Saudi Arabia, which rose to 0.3 mnt in April from 0.2 mnt in March.

Ultratech Cement remains top importer

Ultratech Cement continued to lead the import market, with its purchases doubling to 0.4 mnt in April against 0.2 mnt in March. Other importers, such as Shree Cement, reduced their imports significantly. Shree’s imports dropped by 50% m-o-m to 0.1 mnt in April, while Reliance Industries maintained its levels at 0.1 mnt.

Kandla sees significant growth

Among the major unloading ports, Kandla saw the most significant increase in volumes, handling 0.5 mnt in April against 0.2 mnt in March, reflecting a 150% growth. On the other hand, Visakhapatnam recorded a 50% decline to 0.1 mnt in April from 0.2 mnt in March.

Prices decline m-o-m in Apr’25

US-origin pet coke prices averaged $109/t CNF Kandla in April, falling by $11/t m-o-m. At Vizag, the same stood at $111/t in April, down by the same $11/t m-o-m.

On the other hand, the decline in Saudi-origin prices was more modest. Tags fell by $2/t m-o-m to $117/t CNF Mundra and $119/t CNF Vizag in April.

Price trends w-o-w

US pet coke prices in both eastern and western India fell w-o-w to $100-102/t CFR amid sufficient stocks and weak Chinese demand as trade tensions escalated. The US, facing high tariffs and retaliatory measures from China, witnessed reduced pet coke exports. Saudi-origin offers firmed up at $116-118/t CFR, supported by stronger Chinese buying.

Outlook

India’s pet coke imports are expected to remain stable, driven by consistent cement sector demand and ongoing supply tightness in the domestic market. The outlook will depend on price sensitivity, with the US continuing to supply competitive material, especially due to China’s tariffs. However, if global trends shift, such as a rebound in Chinese demand or rising prices, Indian importers may adjust their purchasing strategies accordingly, impacting import volumes in the near term.