The Indian Petcoke market has remained identical with the trend in the last week. Domestic prices as well as import offers have remained unmoved, and moderate demand continued to prevail.
IMPORT OFFERS STAY STABLE
There was no change in the import offers from the key international regions. The latest import offer for Petcoke (6.5% Sulphur) from USA is reported stable at around USD 104/MT CFR India; and that for Petcoke (9% Sulphur) from Saudi Arabia at around USD 90/MT CFR India.
DOMESTIC PRODUCERS RETAINS LAST REVISED PRICES
As demand stayed moderate and import offers were stagnant, Indian producers have retained their ex-works prices as revised on 1 Nov’16. Demand for the material has been moderate since the start of the demonetization, which lowered activities in the construction sector, forcing cement producers, the prime Petcoke consumers, to curtail production—thus lessening Petcoke purchases.
The ruling ex-works prices in India are: INR 6,350/MT (Reliance Industries Limited) and INR 6,340/MT (Essar).
Mangalore Refinery and Petrochemicals Limited (MRPL) also has kept its prices unmoved at INR 6,364/MT (ex-works), for customers outside the Karnataka state; and at INR 6,264/MT(ex-works), for customers within the Karnataka state.
Source: Market Participants
PRODUCTION UP IN DEC’16
In India, Petcoke production in Dec’16 was higher by 3.2%, at 1,172 ‘000MT, than the production in Nov’16. The higher production during the month was driven by the effort of the domestic producers to ensure adequate supply in view of the high international offers.
Source: Industry
IMPORTS
As there was no spurt in the demand, imports were low. During the 1-20Jan’17, only 0.3 MnT of Petcoke had landed at Indian ports, data compiled by CoalMint Research shows.
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