With the start of 2018, good news poured in for the Indian Petcoke users.
The major domestic refineries in the country have slashed their ex-works prices by INR 450/MT with effect from 1Jan’18; seemingly aimed at encouraging the domestic material as the import duty was up to 5%.
Reliance Industries Limited, the largest producer in the country, has revised its ex-works price by INR 450/MT to INR 7,700/MT; while Essar, the country’s second largest producer, has reduced its ex-works price by the same amount to INR 7,685/MT.
Source: CoalMint Research
Following its peers, Mangalore Refinery and Petrochemicals Limited also has lowered its ex-works price by INR 520/MT to INR 6,950/MT.
Petcoke has remained as the principal fuel for the Indian cement makers, mainly due to the higher calorific value vis-à-vis coal. Petcoke purchases in the country have picked up post relaxation of the Supreme Court ban, allowing the cement and the lime industries to use the fuel.
On the other hand, there was no change in the international Petcoke offers on a week-on-week basis. The latest offer for Petcoke (6.5% Sulphur) from USA was assessed at around USD 95/MT CFR India. And the recent offer for Petcoke(9% Sulphur) from Saudi Arabia was assessed at around USD 92/MT CFR India.
Source: CoalMint Research
Leave a Reply