India: Pet coke imports slip 8% y-o-y in Q1FY’26

• June imports decline 23% m-o-m amid weak demand
• US remains top exporter; UltraTech Cement leads buying

India’s pet coke imports fell by 8% y-o-y to 3.5 million tonnes (mnt) in Q1FY’26 (April-June 2025) from 3.8 mnt in Q1FY’25, BigMint data shows. The decline was mainly due to reduced inflows from the US at 1.5 mnt (down 6%) and Saudi Arabia at 0.9 mnt (down 18%) compared with last year. However, imports from Venezuela increased by 67% y-o-y to 0.5 mnt in Q1FY’26.

Jun’25 imports drop m-o-m
Pet coke imports declined by 23% to 1.0 mnt in June 2025 from 1.3 mnt in May, reflecting weaker buying ahead of the monsoon. Notably, US volumes dipped to 0.4 mnt from 0.6 mnt, while shipments from Saudi Arabia stayed flat m-o-m at 0.3 mnt.

By load country
The US remained India’s largest supplier in Q1FY’26 with 1.5 mnt, slightly lower than 1.6 mnt a year ago. Saudi Arabia followed, with 0.9 mnt (down from 1.1 mnt). Venezuela’s volumes rose to 0.5 mnt against 0.3 mnt earlier, and Oman shipped 0.2 mnt, down from 0.3 mnt in Q1FY’25.

Top receivers
UltraTech Cement remained the top importer at 1.1 mnt in Q1FY’26, unchanged from a year earlier. Shri Cement imported 0.3 mnt (down 25% y-o-y), Reliance Industries held steady at 0.2 mnt, while Ramco Cement’s intake rose to 0.2 mnt from nil previously. JK Cement’s imports stayed flat at 0.2 mnt.

Prices rise m-o-m in Jun’25
US-origin pet coke prices averaged $106.6/tonne (t) CNF Kandla in June, up by $5.1/t from $101.5/t in May. At Vizag, US-origin prices increased by $5.1/t to $108.6/t in June from $103.5/t in May.

Saudi-origin prices also strengthened. CNF Mundra offers averaged $108.6/t in June, up by $5/t from $103.6/t in May. At Vizag, Saudi-origin prices rose to $110.6/t in June from $105.6/t in May, an increase of $5/t.

Outlook
Looking ahead, imports might stay subdued as buyers adjust procurement ahead of peak monsoon and amid stable portside stocks. In the coming months, buying interest will likely hinge on price movements, freight trends, and port inventory levels.