Pet Coke Price in India is Currently Surging
Pet coke prices in India are currently experiencing an uptrend on the back of heightened consumption. This growth illustrates escalating demand for pet coke across various industrial segments. Despite this surge in consumption, the production of pet coke has seen a decline, contrasting with the previous year's figures and indicating a tightening in domestic production capabilities. This situation is further towing the prices up.
On the regulatory front, the Director General of Foreign Trade (DGFT) has played a crucial role in managing the import quotas for raw pet coke amidst legal proceedings and cases. The regulation has further intensated the supply which has then led to buoying up the prices for pet coke.
In terms of pricing strategies, RIL has implemented a modest increase in pet coke prices. Conversely, MRPL has extenuated the prices for March shipments, for road and rail supply options. MRPL's pricing strategy also includes incentive schemes for bulk purchasers, offering discounts based on quarterly and annual volume commitments.
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According to the article by Procurement Resource, pet coke prices in India are considerably rising due to increased demand across industries and reduced production compared to last year, highlighting a strain in domestic supply. Regulatory actions by the DGFT, particularly import quota management amidst legal battles, have tightened supply further, pushing prices higher.
