Coal news and updates

International pet coke market range-bound

January 14: International prices of fuel grade petroleum coke continue to move in a range as China remains a selective buyer while supplies from Venezuela are yet to improve, industry sources said.

"The market for high sulphur pet coke is seeing Q1 (January-March) deals in a range of $54-$57 per ton FOB US Gulf while the freight for Supramax vessels continue to remain strong," the sources said.

"The high-sulphur market is well supplied. China is out of the market unless $102-103 per ton CFR can be secured," a source from Europe said.

Freight for Supramax vessels is at $52-55 from the Gulf to India, add $2-3 for cargoes into China, the source said.

The mid-sulphur market is illiquid as Venezuela is not exporting spot material, the source added.

Meanwhile, it is expected that supplies of imported pet coke into India may improve as a new refinery is likely to be operational with high-sulphur pet coke in Saudi Arabia in the current quarter. "May be, half of the proposed 2 mt material from Saudi Arabia will find its way into India," the source added.

"In addition, MRPL is likely to commence operation soon with a capacity of 2 mtpa," an official in India said.