India’s demand for petroleum coke is going down day by day as most buyers have now reduced booking imports in view of the uncertainty looming over its future industrial usage as fuel due to a possible countrywide ban by the government.
Nevertheless, the global pet coke market has sustained robust demand; hence, there has been no significant downturn in the pet coke export offers from the key overseas markets — USA and Saudi Arabia.
Presently in India, the continued ambiguity over the issue relating to import and use of pet coke is under “active consideration” by the Supreme Court, as well as the Ministry of Petroleum and Natural Gas (MoPNG) and the Directorate General of Foreign Trade (DGFT).
The Environment Ministry has suggested that the use of pet coke should be discouraged and the user industries should be asked to switch over to alternate environment-friendly fuels.
Source: CoalMint Research
On the pricing front, latest offers for pet coke (6.5% sulphur) from the United States Gulf Coast (USGC) are around USD 116-118/MT CNF India.
Higher sulphur (9%) Saudi Arabia pet coke is assessed in a range of USD 109-112/MT CNF India.
Currently in India, domestic prices of pet coke are INR 9,600/MT (Reliance Industries Ltd.) and INR 8,540/MT (Mangalore Refinery and Petrochemicals Ltd.).
N.B.:
i. The above prices are effective 1 Jul’18.
ii. These prices are exclusive of GST @18%.
iii. The MRPL price is for pet coke transported by rake/barge.
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