India: Imported pet coke prices edge up w-o-w

• Onset of monsoon reduces demand for pet coke
  
  
• India's pet coke imports increase by 31% in H1CY24
  
  

Prices of imported pet coke (6.5% S) in the international market edged up w-o-w in the range of $107-108/t CFR west coast India and $109-110/t CFR east coast India. The onset of monsoon has reduced demand for pet coke in India.

India's pet coke imports increased by 31% in the first half of calendar year 2024 (H1CY24) to 8.03 million tonnes (mnt) as against 6.1 mnt in H1CY23, as per BigMint data. India's imports of pet coke fell to 1.21 mnt as against 1.24 mnt in May, 2024.

Imports from the US rise by 22% y-o-y

India recorded highest imports of pet coke from the US in H1CY24 at 3.56 mnt, up 22% as compared with 2.93 mnt in H1 CY23. Imports from Saudi Arabia rose to 1.67 mnt in H1CY'24 as against 1.58 mnt in H1CY'23. Imports from Venezuela increased by almost twofold to 0.84 mnt.

Company-wise imports

Ultratech Cement recorded the highest imports at 1.73 mnt in H1CY'24, up 34% against 1.28 mnt in H1 CY23. Shri Cement recorded imports at 1.32 mnt, up 28% against 1.03 mnt in H1 CY23.

Port-wise imports in H1CY24

Kandla recorded the highest level of imports at 1.78 mnt in H1 CY24 compared with 1.37 mnt in H1 YCY23. Vizag recorded imports at 1.25 mnt, up 66% on a yearly basis. Mundra imported a total of 1.11 mnt in H1 CY24.

Outlook

Pet coke imports in near future are expected to be on downtrend due to monsoon and reduced buying interest. The reduced infrastructural demand is expected to pull down prices.