Pet Coke Prices Go Up in India

Pet coke prices have gone up in India by INR 300/MT, with the onset of Feb’16. Indian producers seem to have raised their ex-work prices due to domestic supplies shrinking as a consequence of prevalence of strong demand in home markets.

Reliance Industries, the largest producer in the country, has raised its ex-work price by INR 300/MT to INR 3,800/MT. Essar, the country’s second largest producer, also has hiked its ex-work price by the same amount to INR 3,790/MT. The price revisions are effective from 1 Feb’16.

During the recent past, prices of domestic material were reduced significantly to low rates, which prompted buyers in the country to purchase actively, resulted in domestic stocks declining. With prevalence of strong demand and diminishing stocks, domestic producers seem to have raised their ex-work prices in the latest revisions.

In the meantime, imports offers were reported to have undergone no change from that in the last assessment. According to an official of a reputed cement company, offers for Pet coke (with around 9% Sulphur content) from Saudi Arabia are unchanged at USD 38-39/MT, CFR India. While, offers (with around 6.5% Sulphur content) from US are assessed at USD 47-48/MT, CFR India.

Some sections of buyers also preferred to import as offers in key international markets have been significantly low. During Jan’16, 1,071,000 MT of Pet coke was imported into the country, according to SteelMint Research. The importers were mostly cement producers, SteelMint Research shows.

Pet coke import to India in Jan’16

Source: SteelMint Research