MSTC Ltd., on behalf of Indian Oil Corporation Ltd. (IOCL), has conducted another e-auction last week, on 15 Sep’18, for selling petroleum coke from IOCL’s 11th oil refinery at Paradip in Odisha.
However, only 20,000 MT out of the entire lot quantity of 70,000 MT pet coke was sold at a reserve price of INR 6,800/MT, which was INR 400/MT lower as compared to the last auction held in the first week of this month.
In the last IOCL auction for pet coke, 30,000 MT was sold at a reserve price of INR 7,200.
Meanwhile on the pricing front, latest offers for pet coke (6.5% sulphur) from USA are assessed at around USD 122/MT CNF India, while offers for pet coke (9% sulphur) from Saudi Arabia are assessed at around USD 114/MT CNF India.
Currently, Indian domestic prices of pet coke are INR 9,450/MT (Reliance Industries Ltd.) and INR 8,320/MT (Mangalore Refinery and Petrochemicals Ltd.).
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