APMDC Suliyari Coal Upcoming MP MSME auction 1,00,000 MT @SBP INR 2516/- Per MT on 1st July 2024
Registered User
New UserRIL rolls over pet coke prices for January loading
14 Jan 2014
January 14: Reliance Industries Ltd (RIL), India's largest petroleum coke producer, has rolled over the ex-refinery price of fuel grade petroleum coke for loading in January 2014, an industry source said.
"The refiner has fixed the price at Rs 6,500 per ton for January loading, which is similar to that for December 2013 loading," the source said.
Incidentally, the company had not changed the price in December 2013 either after having increased the rate by Rs 200 per ton in November 2013.
"There were no major changes in the prices of fuel grade petroleum coke in the international markets and the demand supply situation in the country also remains largely unchanged. These factors may have prompted the company to roll over the price," the source said.
The price of high-sulphur pet coke in the international markets continued to hover around $54-57 per ton FOB US Gulf Coast and with a freight of around $45-47 per ton, the CFR India price is about $98-104 per ton.
RIL had kept October loading prices unchanged after increasing the same by Rs 300 per ton for September loading to Rs 6,300 per ton. Earlier, it had increased the price by Rs 100 per ton in July from Rs 5,900 per ton.
Both in July and September 2013, the company had increased the prices to off-set the impact of the depreciation in the Indian currency versus the US dollar.
Though information from other refiners like Essar, HPCL and BORL which generally follow RIL in fixing their pet coke prices, is not available at present, they are also likely to follow suit so far as the January 2014 loading prices are concerned, sources feel.
RIL had increased prices of pet coke by Rs 600 per ton between March-November, 2013 from a low of Rs 5,700 per ton in February 2013.
Earlier, between December 2012-February 2013, the Indian refiners had rolled over the prices before resorting to an increase in March-April, 2013. They had cut prices by Rs 400 and Rs 150 per ton in November and October, 2012 respectively.