Coal news and updates

RIL hikes Sept loading pet coke prices by Rs 300/ton

September 5: Reliance Industries Ltd (RIL), India's largest petroleum coke maker, has increased the basic price of the material by Rs 300 per ton to Rs 6,300 per ton for loading in September, an industry source said.

The company had kept the price unchanged for August loading at Rs 6,000 per ton after increasing it by Rs 100 per ton in July from Rs 5,900 per ton largely to pass on the impact of the depreciation in the rupee compared to the US dollar.

Though information from other refiners like Essar, HPCL and BORL which generally follow RIL in fixing their pet coke price, is not available at present but they are also likely to increase the prices by a similar margin.

RIL had kept the price unchanged for June loading at Rs 5,900 per ton after reducing the price by Rs 50 per ton for May loading to Rs 5,900 per ton. It had earlier increased the price by Rs 100 per ton in April to Rs 6,000 on the back of Rs 200 per ton increase in March to Rs 5,900 per ton from Rs 5,700 per ton in February.

Earlier, between December 2012 and February 2013, the Indian refiners had rolled over the prices before resorting to increase in March and April 2013. They had cut prices by Rs 400 and Rs 150 per ton in November and October respectively.