Strong demand and stable prices have prevailed in the Indian Petcoke market.
The Petcoke market in the country has remained unchanged from the atmosphere in the week last.
SHORTAGE IN INTERNATIONAL MARKETS PERSISTS
Severe shortage has continued to reign in the key international markets. Import offers, as such, have remained at high levels.
According to a reputed importer, import offers from both Saudi Arabia and USA were identical at around USD 82-83/MT CFR India. And, the cargoes were also not available for immediate shipment.
Some market participants said that they were uncertain on when the supply tightness will ease in the international markets, when spoken by SteelMint .
DOMESTIC EX-WORKS PRICES UNCHANGED
Indian producers have retained their ex-works prices as revised on 1Aug’16, when, Reliance Industries Limited, the largest producer in the country, had hiked its ex-works price by INR 500/MT to INR6, 100/MT. Essar, the second largest producer in the country, also had hiked its ex-works price by the same amount to INR 6,090/MT.
Source: Market Participants
CIL VOICES FOR CLEAN ENVORONMENT CESS ON PETCOKE
Recently, the state-run miner, Coal India Limited, has urged the Coal Ministry to initiate steps for imposition of the Clean Environmental Cess (renamed from Clean Energy Cess) on Petcoke, which was attributed as a more polluting fuel than coal as Petcoke emits Sulphur Dioxide to the environment.
IMPORTS
During the 1-12 Aug’16 period, 498,430 MT of Petcoke was imported into the country, according to SteelMint Research.
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