The major Petcoke producers in India have rolled over their ex-works prices for Jan’17 as demand remained subdued.
Import offers also have not undergone significant movements as compared with the rates in the week last.
The recent import offer for Petcoke (6.5% Sulphur) from USA was assessed slightly up at around USD 105/MT CFR India; and that for the material (9% Sulphur) from Saudi Arabia unchanged at around USD 90/MT CFR India.
The domestic ex-works prices of Petcoke has remained at: INR 6,350/MT (Reliance Industries Limited ) and INR 6,340/MT (Essar).
Source: Market Participants
In a nonconformity, Mangalore Refinery and Petrochemicals Limited (MRPL) has raised its ex-works price by INR 120/MT to INR 6,364/MT, with effect from 1Jan’17, for customers outside the Karnataka state. For buyers within the state, the ex-works price also was revised upwards by the same amount to INR 6,264/MT. MRPL seems to have hiked its ex-works prices in a bid to match its prices with that of Reliance Industries Limited, the largest producer in the country.
DEMAND STAYS SUBDUED
Demand for Petcoke in India has been soft as cement production was down due to the inactive construction activity prevailed in the country as a consequence of demonetization.
IMPORTS
During Dec’16 imports of Petcoke into India was lower at around 0.96 MnT than the imports at 1.3 MnT in Nov’16, according to data compiled by CoalMint Research.
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