There was no change in the overall Petcoke market in India during the last seven days. Strong demand and high prices continued to rule the market.
In India, the market has sustained robust demand as supplies were short in the key overseas markets—Saudi Arabia and USA; and at the same time the international demand remained strong.
In USA, the refineries, which were undergoing maintenance shut-downs, are yet to resume full-fledged operations, thus constricting supply. At the same time, the supplies in Saudi Arabia also have gone dry as the international demand shifted towards the Middle Eastern country due to the supply tightness in USA.
As fallout of the acute supply tightness in the key international markets, the offers have gone up to significant heights.
The latest offer for Petcoke(6.5% Sulphur) from USA has hovered at around USD 118/MT CFR India, without undergoing change from that in the last week. Likewise, the recent offer for Petcoke (9% Sulphur) also has hovered at around USD 112/MT CFR India, unchanged from the week-ago rate.
Source: CoalMint Research
In India, the domestic refineries did not revise their prices during the last seven days. Reliance Industries Limited,the largest Petcoke producer in India, has maintained its ex-works price at INR 8,950/MT. Essar, the second largest producer in the country, also has retained its ex-works price at INR 8,935/MT.
But, Mangalore Refinery and Petrochemicals Limited has raised its ex-works price, with effect from 1Apr’18, by INR 550/MT to INR 7,860/MT. The price hike seems to have prompted by the strong demand prevailing in the country.
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