India's pet coke consumption falls marginally m-o-m in May'24
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India's petroleum coke consumption dropped marginally by 2.4% m-o-m in May compared to 1.67 mnt in April 2024.
The infrastructure activities got affected a bit earlier month due to general elections which concluded on 1 June, 2024. The infrastructure activities have got increased but again it may get affected due to monsoon expected to hit in June, 2024 across the country. These cement industries are the major consumers of petcoke. Hence the overall demand of petcoke is expected to vary accordingly.
Pet coke production inches up m-o-m
The country's petroleum coke production in May, 2024 was reported at 1.27 mnt, rising by 3.3% m-o-m.
Pet coke price trend lower in June
BPCL has revised pet coke prices from its various refineries for June, 2024 shipments. Current prices are, Bina refinery- INR 13,250/t (for rail supply) and INR 13,200/t (for road supply), down by INR 63/t. Kochi refinery- INR 11,003/t (for rail supply), down by INR 324/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.
RIL has reduced pet coke prices to INR 12,439/t, down by INR 800/t m-o-m. The current month's price is lower by same month of the last year's price by around 6%. RIL releases very limited quantity of pet coke in the market as they utilise major portion of it in their gasification unit.
Indian Oil Corporation Limited (IOCL) has slashed fuel grade pet coke prices for June, 2024. Prices at Koyali refinery for road delivery dropped to INR 11,150/t against last price of INR 11,630/t. Prices in Panipat refinery rose to INR 12,260, Paradeep prices at INR 10,300 and Haldia at INR 10,470/t. The rake prices have also seen a fall of INR 480/t.
Outlook - The import quantity of RPC has been increased to 1.9 mnt from 1.4mnt for calciners. Thus, it is expected to increase the overall consumption of petcoke from financial year 2025 (FY 25) onwards.
