In a confirmed deal, 50,000 t of Venezuelan pet coke with 9% sulphur have been booked at $235/t CFR India basis for June-arrival. Prices are cheaper by $15/t compared to US- and Saudi Arabia-origin prices which are at $245-250/t CFR India. Although Venezuela is not a preferred option for Indian cement manufacturers but in the ongoing scenario of elevated prices, imports from the country are likely to rise in the near term.
Leave a Reply