Coal news and updates

No offers for Saudi Arabian pet coke, says trader

Despite the recent firmness in pet coke prices, Saudi Arabian refiners are believed to be not offering quotes for sale in India, a trader told ICMW.

“There is no offer for Saudi cargo, probably because they are booked till May,” they said.

At the beginning of March, Saudi Arabian cargo was being offered at around $35 per ton CFR India, but later during the month, prices rose up to $40 per ton.

However, as a number of Indian companies in recent months have started using pet coke, the demand has gone up and many Indian companies have contracted to procure such cargo in advance, said an official of a cement company.

Meanwhile, the quotes for US Gulf Coast pet coke has increased to about $45 per ton CFR India from a low of about $40-42 per ton quoted at the beginning of March.