Domestic Petcoke prices in India has remained stable at the rates revised on 1July’16, and at the same time shortage in the key international markets has further intensified.
The material has become scarce in the key international markets, and no material is available for immediate loading.
According to a reputed importer, there is no import availability in the markets of Saudi Arabia and USA due to disruption in supply. Imports offers from the two regions now have reached significantly high rates, and the import offers from both the regions have also become identical in terms of value. Normally, import offers from Saudi Arabia are priced lower than that from USA.
The latest import offers from Saudi Arabia and USA are hovering at around USD 80/MT CFR India respectively, according to the importer.
STRONG DEMAND PREVAILS IN DOMESTIC MARKET
Purchases have again become strong in the Indian market, although some buyers had lowered their purchases immediately after the domestic price hike.
Cement manufacturers continue to use Petcoke, without replacing the major fuel mix with coal.
It may be recalled that on 1July’16, Reliance Industries Limited, the largest producer in the country, had raised its ex-works price by INR 650/MT to INR 5,600/MT; and Essar, the second largest producer in the country, also had hiked its ex-works price by the same amount to INR 5,590/MT.
Source: Market Participants
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