India: IOCL revises raw pet coke prices twice in Sep'24

• Koyali's prices higher than Barauni's by INR 1,660/t
  
  
• Sulphur content of RPC at Bongaigaon, Barauni rise
  
  

Indian Oil Corporation Limited (IOCL) has revised its prices of raw petroleum coke (RPC) for September 2024 deliveries. This marks the company's second price revision this month. On 1 September 2024, IOCL reduced prices by INR 2,500-4,830/tonne (t), and later, on 11 September 2024, increased them by INR 150-2,450/t.

Notably, Koyali pet coke is considered to be of inferior quality, and earlier, its prices used to be lower than Barauni's. However, this trend reversed in August after several months. With the latest revisions, Koyali's prices are still higher than Barauni's by INR 1,660/t, though the latter's has declined m-o-m.

Meanwhile, the sulphur content of RPC at Bongaigaon Refinery has gradually increased from less than 1% to 1.1-1.2% due to the use of imported crude. Even the sulphur content of Barauni's RPC has increased recently, from 1.5-1.8% to over 2% (occasionally), which can be attributed to the processing of imported high-sulphur crude.

Barauni RPC with high ash content is priced separately at INR 18,872/t. Its prices have increased by INR 120/t from INR 18,752/t, set in the previous revision. Notably, prices of this high-ash RPC correspond with the current Grade A RPC prices at Barauni, with a discount factor of 20%.

Grade-wise prices at IOCL refineries

There is a quality differential of INR 500/t for each grade. The prices of base Grade B are the lowest, and Grade A are higher by INR 500/t. Prices of the premium grade are higher by INR 500/t as compared to Grade A.

IOCL cuts fuel-grade pet coke prices for Sep'24 deliveries

For the Koyali refinery, IOCL has reduced fuel-grade pet coke prices by INR 380/t to INR 10,980/t for road delivery against INR 11,360/t. Prices for the Panipat Refinery decreased to INR 11,970/t. Paradip prices edged down to INR 10,210/t and Haldia was at INR 10,380/t.