MRPL Hikes Petcoke Prices by INR 270/MT as Demand Gets Stronger

Mangalore Refinery and Petrochemicals Limited (MRPL) has revised its Petcoke prices upwards by INR 270/MT after the industry biggies had hiked their respective ex-works prices with the onset of May’17.

MRPL has raised its Petcoke ex-works price to INR 6,180/MT, for customers outside the Karnataka state. The company also has lifted its ex-works price to INR 6,080/MT, for customers within the state.

The price hike could be attributed to the prevalence of strong demand in the country. Petcoke consumers have been purchasing the fuel to not only cater to their ongoing consumption but also to stock the material in view of the impending rainy season.

Besides, the ongoing maintenance shut-down of the refinery of HPCL-Mittal Energy Limited is also lowering domestic supplies.

With effect from 1 May’17, Reliance Industries Limited, the largest producer in the country, had raised its ex-works price by INR 450/MT to INR 7,150/MT. Essar, the country’s second largest producer, had revised its ex-works price upwards by INR 455/MT to INR 7,145/MT with effect from the same date.

Source: CoalMint Research

In the meantime, Petcoke offers from the key international markets have undergone no change from the rates the week last.

Offers for Petcoke (6.5% Sulphur) have remained at USD 98-100/MT CFR India; while, offers for Petcoke (9%Sulphur) from Saudi Arabia have remained at USD 90-92/MT CFR India.

Source: CoalMint Research

In a tentative forecast, imports are likely to increase due to the prevalence of strong demand, and offers are expected to remain at the current rates in the near term, as indicated by the global demand and supply situations.