Indian Petroleum Coke Prices Continue Their Downward Trend Amid Rising Inventory At The Refinery Level
Many Refineries Lowered Prices for Pet Coke In May 2023
IOCL (Indian Oil Corporation Limited) slashed its raw petroleum coke (RPC) prices beginning on May 5, 2023.
Prices for premium grade pet coke lowered to 6,900/t m-o-m. IOCL's Guwahati, Digboi and Koyali units saw a price cut of INR 6,900/t. This cut is far lower at Barauni and Bangaigaon, with INR 5,200/t and INR 5,190/t, respectively.
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IOCL's revised price reduction from 9th May stood at INR 13,450/t (at Koyali refinery for road delivery) compared to the previous month's INR 14,620/t. Panipat prices lowered to INR 14,360; Paradip and Haldia's to INR 12,420 and INR 12,590/t, respectively. Rake prices at Koyali, Paradip, and Haldia dipped by INR 1,130-1,170/t.
This is presumed to be a result of the domestic supply demand/upliftment at the following refineries and levels of stocks paired with many qualities of the refinery products.
India's CPCL Also Lowered Pet Coke Prices
Chennai Petroleum Corporation Limited (CPCL), which majorly supplies to Tamil Nadu and Andhra Pradesh, lowered its prices of pet coke in April 2023 to INR 18,010/t, lower by INR 1,300/t for road supply. CPCL does not have a rake-loading facility. The product's monthly average dispatch is 40,000-45,000 t.
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According to the Procurement Resource article, various Indian Refineries are lowering their pet coke prices in light of factors like oversupply in domestic and global markets, lower prices of feedstock coal and crude oil, as well as sluggish demand from the downstream construction sector.
