Reliance Industries Limited (RIL) has revised Petcoke price to INR 9,350/MT with effect from 1 Nov’18, which is a reduction of INR 300/MT over its previous price of INR 9,650/MT (as from 1 Oct’18).
Similarly, Nayara Energy (erstwhile Essar Oil) has also reduced Petcoke price w.e.f. 1 Nov’18 to INR 9,340/MT, which is lower by INR 300/MT as compared to its Oct’18 price of INR 9,640/MT.
Mangalore Refinery & Petrochemicals Ltd. (MRPL) has revised Petcoke price w.e.f. 1 Nov’18 to INR 8,580/MT for road supplies against its Oct’18 price of INR 8,670/MT. Price for rake /barge supplies is INR 8,280/MT against its Oct’18 price of INR 8,370/MT. Thus, there is reduction of INR 90/MT over MRPL’s last prices in Oct’18.
Bharat Petroleum’s Bina refinery has revised Petcoke price w.e.f. 1 Nov’18 to INR 12,289/MT by rake and INR 12,239/MT by road.
Source: CoalMint Research
Price Commentaries
The price reduction by RIL, India’s largest producer of Petcoke which contributes over 45% of domestic production, is reflective of the reduction in prices of imported Petcoke from US and Saudi Arabia in the recent weeks.
While the reduction in CNF prices of seaborne Petcoke over the month was to the tune of USD 15-18/MT, the reduction by RIL is lower probably considering the gradual increase in demand after monsoon season.
The decreasing trend is expected to be followed by other domestic producers with same or varying amount.
Nayara Energy typically follows the RIL price and generally maintains a difference of INR 10/MT with respect to RIL. Hence, their price reduction is by the same amount of INR 300/MT as RIL.
MRPL price for rake/barge supplies is lower by INR 300/MT than road supplies, which is the estimated expenditure incurred by the customers to transport the product from refinery for rake/barge loading.
Petcoke price of Indian Oil Corporation Ltd. (IOCL), the country’s second-largest producer of Petcoke, is yet to be revised. It is expected that the price reduction by RIL may also reflect in IOCL price revision.
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