Petcoke prices have gone up in India. Indian producers have hiked their ex-works prices by INR 650/MT w.e.f 1 July’16.
INTERNATIONAL SHORTAGES LIFT PRICES IN INDIA
The country’s largest producer, Reliance Industries Limited, has raised its ex-works price to INR 5,600/MT; and Essar, the second largest producer in the country, has hiked its ex-works prices to INR 5,590/MT.
The price hikes could be regarded as consequences of acute unavailability prevailing in the key international markets. In Saudi Arabia and USA, the material has become unavailable for immediate shipment.
Import offers have gone up to record-high due to the acute unavailability. According to a reputed importer, import offers from Saudi Arabia and USA have not only gone up significantly, but also, differences in the offers have narrowed to bring the offers close to each other in terms of the rates.
The importer said that import offers of Petcoke (6.5% Sulphur) from USA are at around USD 72/MT CFR India; and that of the material (9% Sulphur) from Saudi Arabia are at around USD 70/MT CFR India. Also, materials booked against these offers are not available for immediate shipping.
Source: Market Participants
IMPORTS
In a paradoxical situation, imports continue to land at Indian ports despite unavailability prevailing in key international markets. In this context, it is to be noted that the imports currently entering into India pertain to earlier bookings.
During the 1-27Jun’16, 1124 TMT of Petcoke was imported into the country, according to data compiled by SteelMint Research.
The top importers during the period were: Dalmia Cement, Shree Cement, Ambuja Cement, Zuari Cement, among others.
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