Reliance Industries Limited (RIL) has increased petroleum coke price effective from 1st February 2020 by INR 400/MT to INR 6,572/MT, over its previous price of INR 6,172/MT.
Nayara Energy (erstwhile Essar Oil) has also increased its pet coke price by INR 400/MT to INR 6,565/MT, over last month’s price of INR 6,165/MT.
Price Commentaries
The increase of INR 400/MT is in the tune of increase of Pet coke price in the international markets. Earlier, there have been several price reductions by RIL from the highest level in March’19 of INR 9,150/MT and down to INR 6,172/MT in Nov’19. The total reduction was by INR 2,978/MT from the highest level over the period of one single year to the lowest level in Nov’19.
Notably, the pet coke price is expected to increase from this low level considering various factors. Now, after continuing the low price level in Nov’19, Dec’19 and Jan’20, there has been a sharp increase of INR 400/MT in Feb’20.
The demand of pet coke is expected to increase gradually due to the reason that cement demand has started increasing due to consumption in various infrastructural activities.
Nayara Energy typically follows the RIL price and generally maintains its price lower by INR 10/MT with respect to RIL. Hence, they have also increased the price by INR 400/MT in this month like RIL.
IndianOil (IOCL), the country’s second-largest producer of pet coke, is yet to revise its price from various refineries.
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