India: Refineries lift pet coke prices for Jan’25

• CPCL increases prices by INR 400/t
• Nayara Energy hikes tags by INR 225/t

Recently, Reliance Industries Ltd (RIL) raised its pet coke prices by INR 225/tonne (t) m-o-m in January 2025, to INR 12,548/t compared to December’s INR 12,323/t.

Following this announcement by Reliance, other refineries too lifted their pet coke offers for January 2025.

CPCL

Chennai Petroleum Corporation Limited (CPCL) announced a price hike of INR 400/t m-o-m to INR 13,000/t ex-Chennai, effective 1 January 2025. This marks a deceleration compared to last month’s INR 560/t m-o-m rise. CPCL, with monthly volumes of 40-45,000 t, maintains a local focus, serving markets in Tamil Nadu and Andhra Pradesh. It primarily relies on road-based dispatch.

BPCL

Bharat Petroleum Corporation Limited (BPCL) increased pet coke prices at both its refineries.

Bina Refinery: Rail supply prices rose INR 575/t m-o-m to INR 12,873/t, while road supply prices stayed INR 50/t lower. The refinery uses road and rail transport to cater to diverse logistical needs.
Kochi Refinery: Rail supply prices were hiked by INR 419/t m-o-m to INR 10,321/t. Kochi’s inland location gives it an advantage, and its steady supply of 85-90,000 t/month is pivotal, though it is limited to rail dispatch.

MRPL

Mangalore Refinery and Petrochemicals Limited (MRPL) opted for a modest INR 150/t m-o-m increase, adjusting prices to INR 9,980/t for road and INR 9,680/t for rail/barge. The consistent INR 300/t differential between the transport modes reflects strategic cost optimisation for its regional cement customers.

Nayara Energy

Nayara Energy raised prices by a moderate INR 225/t m-o-m to INR 12,952/t ex-refinery. Nayara’s pricing has historically been rather competitive. The company keeps its prices aligned with market trends and leverages its steady supply position to maintain offers close to RIL’s benchmark figures.