MSTC Limited, on behalf of Indian Oil Corporation Limited (IOCL), will conduct an E-auction for selling 35,000 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.
Currently, Petcoke prices are at high rates, being influenced by the international supply shortage in the recent past; post the occurrence of the Harvey hurricane in USA in late Aug’17. However, the international supplies will resume shortly which are expected to bring down the prices in India.
The current benchmark ex-works price in India is at INR 8,100/MT; and the offers from USA and Saudi Arabia—the key international markets–are at around USD 110/MT and USD 106/MT respectively on CFR India basis, and for Nov’17 loading.
In a recent development which is expected to disrupt the active Petcoke market in India, the Supreme Court has issued an order to ban usage of Petcoke in Delhi/NCR with effect from 1Nov’17. The ban is due to the alarming levels of atmospheric pollution caused by burning of Petcoke in user industries. The pollution emanates on account of the presence of Sulphur in Petcoke.
The fresh Supreme Court order follows the earlier ban imposed by the National Green Tribunal (NGT); and that was not enforced by the Ministry of Environment , Forests & Climatic Change for reasons best known to the ministry.
Notably, the NGT had allowed usage of Petcoke if the user industrial unit is equipped with anti-polluting devise.
The bids will be open on 31 Oct’17 at 11 am and will close at 13.00 pm.
For contact details view tender section:
http://www.steelmint.com/tender/auction-of-pet-coke-8539
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