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Indian refineries raise pet coke prices in Feb'25 amid supply constraints, rising import costs

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Non Coking

BigMint Bureau

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5 Feb 2025, 19:37 IST

Indian refineries raise pet coke prices in Feb'25 amid supply constraints, rising import costs

CPCL increases prices by INR 630/t

Nayara Energy hikes tags by INR 898/t

Towards the beginning of February 2025, Reliance Industries Ltd (RIL) raised its pet coke prices by INR 902/tonne (t) m-o-m to INR 13,450/t compared to January's INR 12,548/t.

RIL is releasing very limited quantities in the market for sale as the company is consuming a major portion of its production of pet coke in its gasification units. In the current month, it is understood that no quantity will be released.

RIL has begun sourcing pet coke from IOCL's Koyali refinery for its gasification units, aiming to lift 22,000 t in January. This collaboration marks RIL's effort to meet gasifier demand while reducing supply to other customers, especially in the cement industry.

BigMint's assessment for US-origin pet coke shows that CNF prices have increased m-o-m, rising from $109.63/t in January to $114/t as of 5 February.

Following this announcement by Reliance, other refineries too raised their pet coke offers for February.

CPCL: Chennai Petroleum Corporation Limited (CPCL) announced a price hike of INR 630/t m-o-m to INR 13,630/t ex-Chennai, effective 1 February. This marks an improvement compared to last month's INR 400/t m-o-m rise. CPCL, with monthly volumes of 40,000-45,000 t, maintains a local focus, serving markets in Tamil Nadu and Andhra Pradesh. It primarily relies on road-based dispatches.

BPCL: Bharat Petroleum Corporation Limited (BPCL) increased pet coke prices at both its refineries.

Bina Refinery- Rail supply prices rose INR 418/t m-o-m to INR 13,291/t, while road supply prices stayed INR 50/t lower. The refinery uses road and rail transport to cater to its diverse needs.

Kochi Refinery- Rail supply prices were hiked by INR 625/t m-o-m to INR 10,946/t. Kochi's inland location gives it an advantage, and its steady supply of 85,000-90,000 t/month is pivotal, though it is limited to rail dispatch.

MRPL: Mangalore Refinery and Petrochemicals Limited (MRPL) increased prices by INR 610/t m-o-m, adjusting rates to INR 10,590/t for road and INR 10,290/t for rail/barge. The consistent INR 300/t differential between the transport modes reflects strategic cost optimisation for its regional cement customers.

Nayara Energy: Nayara Energy raised prices by INR 898/t m-o-m to INR 13,850/t ex-refinery. Nayara's pricing has historically been competitive. The company keeps its prices aligned with market trends and leverages its steady supply position to maintain offers close to RIL's benchmark figures.