India’s pet coke imports remain stable m-o-m in Feb’25

• US remains largest supplier at 0.8 mnt
• Ultratech largest importer at 0.4 mnt

India’s pet coke imports in February 2025 stood at 1.4 million tonnes (mnt), range-bound m-o-m compared to January 2025. However, on a yearly basis, imports declined by 12.5% compared to 1.6 mnt in February 2024.

India’s cement industry is set for a strong revival in 2025, driven by an INR 1.25 lakh crore planned investments for expanding capacity by 130 million tonnes (mnt). Demand has grown at 10% annually, pushing capacity utilisation to 70% in FY’24, with a projected 7% CAGR through FY’29.

US remains largest supplier

The top three sources of India’s pet coke imports in February 2025 were the United States (0.8 mnt), Saudi Arabia (0.3 mnt), and Venezuela (0.1 mnt). Compared to January, imports from the US rose by 14.3%, up from 0.7 mnt. Saudi Arabian supplies remained unchanged at 0.3 mnt, while Venezuela maintained steady export volumes at 0.1 mnt. The US continues to be the dominant supplier, with its high-quality pet coke being preferred by Indian industries.

Ultratech, Reliance lead importers

Ultratech Cement emerged as the largest buyer in February 2025, importing 0.4 mnt, up from 0.2 mnt in January. Reliance Industries followed with 0.2 mnt, registering a 100% rise m-o-m. Other key importers included Wonder Cement (0.2 mnt), Ramco Cement (0.2 mnt), and Shri Cement (0.1 mnt). Overall, import demand remains strong among cement manufacturers, driven by ongoing construction activities.

Key ports see varied import trends

Among the major unloading ports, Visakhapatnam handled the highest volume at 0.4 mnt in February, followed by Kandla (0.4 mnt) and Krishnapatnam (0.1 mnt). Bedi received 0.2 mnt, while Mundra, Gangavaram, and Ennore handled 0.1 mnt each. The stable trend across ports signifies continued industrial consumption, particularly in western and southern India.

Outlook

India’s dependency on imported pet coke is expected to remain high due to tight domestic supply and increasing refinery prices. While demand from cement and power sectors remains firm, the market is showing resistance to higher prices. If global supply constraints persist and demand remains steady, prices may continue their upward trajectory. However, reluctance from buyers to accept elevated price levels could moderate import volumes in the coming months.