Indian Oil Corporation Ltd. (IOC), the country’s second-largest producer of petroleum coke, has revised pet coke prices from its various refineries w.e.f. 12th Apr’20.
IOC has decreased pet coke price at Koyali refinery for road supplies to INR 7,000/MT from INR 7,350/MT, a decrease of INR 350/MT over last month. Price for rake loading has been also decreased by INR 350/MT to INR 6,800/MT from INR 7,150/MT of last month.
Pet coke price at Panipat refinery for general states has been revised to INR 8,040/MT from INR 8,390/MT, a decrease of INR 350/MT. Pet coke price for Punjab, Haryana, Jammu and Kashmir, and Chandigarh is also revised to INR 8,370/MT from INR 8,690/MT, a decrease of INR 320/MT.
Pet coke price for road supplies at Paradip refinery is decreased to INR 6,170/MT from INR 6,850/MT of last month, a decrease of INR 680/MT. Similarly, the price for rake supply is also decreased to INR 5,870/MT over last month price of INR 6,550/MT, a decrease of INR 680/MT.
Pet coke price ex-Haldia refinery, which has been commissioned recently, has been declared for the month as INR 6,340/MT for road supplies. The price applicable for rake supplies has been kept at INR 6,040/MT, which is lower by INR 300/MT than road supplies.
Price Commentaries
Reliance Industries Limited (RIL), India’s pet coke largest producer, has increased its price w.e.f. 1st Apr’20 by INR 320/MT and the trend was followed by the country’s third-largest producer Naraya Energy (erstwhile Essar Oil Limited).
However, IOC responded differently and has instead decreased prices from its various refineries by varying amounts.
The decrease in price is possibly in consideration of local marketing conditions and sharper increase in price by IOC in the last month as compared to RIL. While the price increase in the last month by RIL was INR 220/MT, IOC had increased prices by varying amounts across its different refineries, viz. INR 420/MT at Paradip, INR 480/MT at Koyali, and INR 670/MT at Panipat.
Further, the ongoing COVID-19 related lockdown has also affected pet coke demand by the cement manufacturing companies, which are largely nonoperational at the moment.
At Panipat refinery, general price is higher by INR 300/MT as compared to price for other northern states, which was INR 340/MT in the last month.
While the price for rake supplies is lower than road supplies at Koyali by INR 200/MT, at Paradip and Haldia, it is lower by INR 300/MT.
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