MSTC Limited, on behalf of Indian Oil Corporation Limited (IOCL), will conduct an E-auction for selling 90,000 MT of Petcoke from the Paradip refinery of IOCL.
The prospective bidders will have to deposit a pre-bid Earnest Money Deposit of INR 10, 00,000 for participating in the E-auction irrespective of their bid quantities.
The bids will be open on 31 May’18 at 11 am and will close at 13.00 pm.
For contact details and other information view TENDER SECTION
Petcoke Market Scenario:
• The price of pet coke imported from the US has been declining since the multi-year high of USD 118/MT in Mar’18, on the back of subdued end-user demand as the users have been switching to US coal to avoid pollution issues.
• As a matter of fact, most Indian pet coke buyers have reduced booking imports in view of the uncertainty looming over the future usage of the fuel due to its possible all-India ban by the government.
• Reportedly, India’s total coal import fell by 9% to 17.32 million metric tons (MMT) in Apr’18 from 19.08 MnT recorded for Apr’17 — this lower volume of coal and coke imports is partially attributed to a fall in pet coke imports during the last month.
• In particular, India’s demand for petroleum coke declined 0.7% to 2.2 MMT in Apr’18 as compared to the corresponding month a year ago.
• Even though the country’s pet coke consumption rose 9% last fiscal to 26 MMT, the yearly growth registered in 2017-2018 is much lower than the double-digit growth recorded in the last seven years.
• On the pricing front, there was neither any change in the international offers nor in the domestic prices of pet coke in India. The latest offers for pet coke (6.5% sulfur) from USA are assessed at around USD 108/MT CFR India, while offers for pet coke (9% sulfur) from Saudi Arabia are assessed at around USD 105/MT CFR India.
• The prevailing domestic pet coke prices stay at INR 9,050/MT (Reliance Industries Ltd.), INR 9,040/MT (Essar) and INR 8,230/MT (Mangalore Refinery and Petrochemicals Ltd.).
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