Seaborne petroleum coke (pet coke) import prices have decreased marginally to the extent of about US$ 1-2 per metric ton on CFR India basis in recent weeks; however, there has been no change of pet coke prices in the Indian domestic market.
Although demand has mostly weakened in the global seaborne pet coke market, Indian offers were heard to be higher on supply concerns as some US refiners undergo annual maintenance.
Nevertheless, Indian trading activities are anticipated to slow down in coming weeks with the approaching monsoon season, according to market sources.
The following price chart illustrates the detailed pricings of India’s major domestic pet coke producers including Reliance Industries.
Source: CoalMint Research
FREIGHT RATES
CoalMint assessed the latest pet coke freight rate for a Supramax vessel (Cargo Intake 55,000 mt) from Port Houston in Texas to Visakhapatnam Port, Andhra Pradesh at $32.63/mt, down $0.27/mt W-o-W but up $0.31/mt M-o-M.
The freight rate for a Supramax vessel to move pet coke from Newport News, Virginia to Vizag was assessed at $34.69/mt, up $0.13/mt W-o-W and $0.36/mt M-o-M.
PRICE ASSESSMENTS
Latest import offers for the US-origin (6.5% Sulphur) pet coke are assessed to be varying in the range of USD 93-94/MT CNF India, as compared to the previous rates of USD 95-96/MT.
Pet coke (9% Sulphur) originating from Saudi Arabia is at present being offered at around USD 87-88/MT CNF India, as against the earlier rates of USD 88-89/MT.
N.B.: It is also understood that certain major customers may have term contracts for import, which varies with the spot cargo rates, resulting in a variation of pet coke prices in the market.
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