Pet Coke Import Offers Slide Further; Domestic Prices Unchanged

Petroleum coke import price levels have further dropped, but moderately, over the last price assessments reported during this month.

However, there has been no change in prices of pet coke in the domestic market — the price revision is due on the 1st of next month, when major players like Reliance Industries, Nayara Energy, Mangalore Refinery & Petrochemicals, etc. are expected to declare their updated prices for Jan’19.

Meanwhile, import of pet coke is expected to increase, as the latest notification by the Directorate General of Foreign Trade (DGFT) dated 26 Nov’18 has brought out the procedure for importing Raw Petroleum Coke (RPC) by calciners and Calcined Petroleum Coke (CPC) by aluminum industries, specifying the quantity in both purposes separately.

Furthermore, demand of pet coke (fuel grade) by cement industries is also expected to increase in coming months, when demand of cement picks up in remaining months of the financial year.

PRICE ASSESSMENTS

The current prices of pet coke (6.5% Sulphur) from USA are assessed to be varying in the range of USD 90-91/MT CNF India.

Similarly, pet coke (9% Sulphur) from Saudi Arabia is at present being offered at around USD 87-88/MT CNF India.

Source: CoalMint Research

The ocean freight rates from the U.S. Gulf Coast (USGC) to Indian ports for Supramax vessel (50,000-55,000 MT) is heard in the range of USD 39-40/MT.

Currently, Indian domestic prices of pet coke are INR 8,550/MT (Reliance Industries Ltd.) and INR 7,580/MT (Mangalore Refinery and Petrochemicals Ltd.).

N.B.:
i. The above prices are effective from 1 Dec’18.
ii. These prices are exclusive of GST @18%
iii. The MRPL price is for pet coke transported by rake/barge.