Reliance Industries Limited (RIL) has increased petroleum coke price with effect from 1st April 2020 to INR 7,115/MT, over its last month’s price of INR 6,790/MT, which’s an increase of INR 325/MT.
Nayara Energy (erstwhile Essar Oil) has also increased pet coke price to INR 7,120/MT, over its last month’s price of INR 6,795/MT, an increase of INR 325/MT.
Price Commentaries
RIL’s price increase of INR 325/MT in this month is mainly due to exchange rate increase of USD against INR, from approximately 71 to 75-76, while the price in USD on CNF India basis almost remains the same.
Notably, the pet coke price has started at a higher level in this new fiscal FY 2020-21 over the closing month of FY 2019-20 in March’20. During FY 19-20, the price started decreasing from the highest level in March’19 at INR 9,175/MT and bottomed at the lowest price of INR 6,175/MT in Nov’19.
Indian demand for pet coke has already reduced last month in the wake of the ongoing corona virus outbreak, for which the Government of India has already announced nationwide locked down for 21 days and it is expected to continue this month also. We will have to see the effect of this unprecedented situation arising due to the Covid-19 pandemic till situation normalizes.
The price of Nayara Energy continues to be in tune with RIL price and is higher by INR 5/MT, which generally varies up to INR 10/MT with respect to RIL.
Indian Oil Corporation Limited (IOCL), the country’s second-largest pet coke producer, is yet to revise prices from its various refineries.
Mangalore Refinery & Petrochemicals Ltd. (MRPL)’s petroleum coke prices are INR 5,990/MT (Road) and INR 5,690/MT (Rake/Barge).
N.B.:
i. The above prices are effective from 1st April 2020
ii. These prices are exclusive of GST @18%
iii. The discounts on Petcoke shall be extra which are linked to upliftment by customers
Leave a Reply