India's pet coke production rises over 10%, consumption grows 4% in Oct'24

India's petroleum coke (pet coke) production in October 2024 reached 1.21 million tonnes (mnt), up 11.1% increase y-o-y from 1.09 mnt in October 2023 and 7.1% m-o-m rise from 1.13 mnt in September. Cumulatively, production in April-October 2024 was 8.57 mnt, slightly declining compared to 8.62 mnt during the same period last year.

Pet coke production in October constituted 5.28% of the total domestic petroleum product output of 22.96 mnt. The cumulative share for April-October was 5.26% of the 162.89 mnt total output.

Consumption of pet coke in October was 1.70 mnt, up 3.7% y-o-y from 1.64 mnt in October 2023 and a 4.7% increase m-o-m from 1.63 mnt in September. Consumption in April-October 2024 reached 12.48 mnt, up 10% from 11.35 mnt during the same period last year.

In October, total pet coke production stood at 1.21 mnt, while consumption reached 1.70 mnt. The deficit was largely covered through imports, with occasional exports occurring as needed.

Outlook

Cement manufacturers resumed buying in November, driving demand for pet coke. Sellers have raised offers, anticipating steady purchases in the coming weeks. Market activity is expected to remain stable, supported by ongoing infrastructure activities and consistent consumption from the cement industry.