Reliance Industries Ltd. (RIL) has decreased petroleum coke price by INR 200/MT to INR 8,950/MT with effect from 18 Mar’19, over its previous price of INR 9,150/MT, which was applicable from 1 Mar’19.
Contrarily, seaborne pet coke prices are currently on the rise — pet coke imported from the United States, in particular, have risen to the tune of about US$ 9/mt during the current month, on India-delivered (CFR) basis.
The average ocean freight rates from United States Gulf Coast to the major Indian ports for Supramax vessel (Cargo Intake 50,000-55,000 MT) have increased substantially to US$ 36-37/MT, which earlier came down to approximately US$ 30/MT.
Nevertheless, there has been relatively lesser change in pet coke prices imported from Saudi Arabia.
PRICE ASSESSMENTS
Latest import offers for the US (6.5% Sulphur) pet coke are assessed to be varying in the range of USD 105-106/MT CNF India, as compared to USD 96-97/MT in the previous month.
Pet coke (9% Sulphur) from Saudi Arabia is at present being offered at around USD 96-97/MT CNF India, as compared to USD 91-92/MT in the previous month.
N.B.: It is also understood that certain major customers may have term contracts for import, which varies with the spot cargo rates, resulting in a variation of pet coke prices in the market.
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