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India: Imported pet coke prices remain unchanged w-o-w

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Pet Coke

BigMint Bureau

124 Reads

2 Sep 2024, 18:08 IST

India: Imported pet coke prices remain unchanged w-o-w

Imported pet coke prices hit a one-month low last week

Majority of mills roll over or slash offers for Sep'24

Prices of imported pet coke (6.5% S) in the international market were recorded unchanged on a weekly basis, having hit a one-month low last week. Notably, prices were assessed in the range of $106-107/tonne (t) CFR west coast and $108-109/t CFR east coast, India.

RIL rolls over prices

Reliance Industries Limited (RIL) set pet coke prices for September 2024 at INR 12,663/t, stable m-o-m but down 12% y-o-y. RIL releases a limited quantity of pet coke in the market, as it utilises the major portion of its production in its gasification unit.

BPCL revises pet coke prices

Current prices-

Bina refinery: INR 13,043/t (for rail supply) and INR 12,993/t (for road supply), up by INR 334/t.

Kochi refinery: INR 10,715/t (for rail supply), down by INR 79/t. There is no road supply for pet coke from Kochi. The material availability at Kochi is estimated at around 80,000- 85,000 t.

MRPL reduces prices

Mangalore Refinery and Petrochemicals Limited (MRPL) reduced its pet coke prices by INR 130/t for its September 2024 shipments. Prices for road supply were at INR 10,380/t and for rail supply were at INR 10,080/t. MRPL maintains an INR 300/t price difference between road and rake supplies to cover customers' costs for moving materials from the refinery to the loading area. MRPL mostly serves major cement customers, primarily by rakes.

Nayara rolls over prices

Nayara Energy rolled over its pet coke prices at INR 13,063/t for its September 2024 sales. The price prevailing this month is 12.4% lower than that of September 2023. Nayara is the highest pet coke supplying company from a single refinery.

CPCL slashes prices

Chennai Petroleum Corporation Limited (CPCL) decreased its pet coke prices for road supply for September 2024 by INR 100/t to INR 13,180/t. CPCL has no rake loading facility. The company's average pet coke dispatch is 40,000-45,000 t per month, with most supplies being directed to Tamil Nadu and Andhra Pradesh.

Outlook

Pet coke prices are on a declining trend. Subdued demand has kept the market under pressure. Moreover, rainfall has contributed to the low buying interest. The market can improve only after infrastructure activities pick up, which is expected to take place after the rains subside.