The Petcoke market in India has remained unchanged from that prevailed last week.
The market continued to sustain strong demand and high prices, arising from steep rise in import offers.
STEEP IMPORT OFFERS CONTINUE TO PERSIST
Import offers have remained at around USD 82-83/MT CFR India from both Saudi Arabia and USA, according to a reputed importer. Acute shortage in the key international markets has resulted in the import offers scaling steep. Deviating from the normal trend of Saudi Arabia origin Petcoke being cheaper than the USA origin materials, there is now no difference between import offers originating from both the international key regions, due to the prevailing tight supply situation.
Market participants, spoken to by SteelMint, have expressed uncertainty on when the supply tightness in the key international markets will ease.
DOMESTIC PRODUCERS KEEP EX-WORKS PRICES UNCHANGED
Indian producers have retained their ex-works prices as revised on 1Aug’16, when, Reliance Industries Limited, the largest producer in the country, had hiked its ex-works price by INR 500/MT to INR6, 100/MT. Essar, the second largest producer in the country, also had hiked its ex-works price by the same amount to INR 6,090/MT.
Source: Market Participants
Domestic supply in the country has been uninterrupted, and sufficient inventory is also being available with domestic producers, as learnt.
Besides, strong demand has been prevailing in the country.
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