In March 2018, prices for high-sulfur imported petcoke for the India CFR West Coast recorded a significant single-digit improvement compared to the previous month.
Mid-sulfur imported petcoke rates registered a similar increase.
For India CFR East Coast, prices for both high-sulfur and mid-sulfur imported petcoke also rose, compared to February.
By the end of March, the average cost of burning high-sulfur petcoke stood at a premium of around 19 percent, on an mmBTU basis, when compared to Richards Bay coal for West Coast. The figure represents a month-on-month decline of roughly eight percent.
Indian petcoke prices reach new heights
The price of imported petcoke to India has reached about USD 117 per ton in March 2018, a great increment when compared to USD 76 in March 2015. This rising trend mirrors a soaring demand, and follows a supply shortage due to refiners undertaking maintenance. The March quarter is a seasonally strong one for cement producers, but cement prices are plunging across the country, which is hurting margins.
Cement manufacturers are expecting imported petcoke prices to ease in April, as more refiners return from their maintenance outages. However, if they are unable to, they will likely have to switch to the also expensive, imported thermal coal.
Read the full article in ICCM 41