Strong shipping industry driving Indian petcoke prices up in February
In February, prices for high-sulfur imported petcoke for the India CFR West Coast stood above $100 per ton, a modest increase compared to the previous month. Mid-sulfur imported petcoke prices also increased marginally, rising above the $113.50 per ton observed in January.
Petcoke prices in the region are expected to remain stable in the upcoming months of 2018, on the back of a strong shipping industry coupled with high coal prices. Nevertheless, India has witnessed a decline in petcoke demand, as the commodity was banned in some states, and consumers remain cautious about further developments.
As noted by Filipe Gouveia, analyst with CW Research: “2018 is showing signs of being a strong year for dry bulk shipping. The Baltic Dry Index remained above the 1000 mark for the first quarter of the year, usually the slowest one due to seasonality in the industry. That means the worst has already passed, with the rest of the year expected to register high freight rates, thus bringing petcoke CFR prices up.”
When it comes to Reliance’s gasification project, the outlook remains clouded with uncertainty. The company announced in its third quarter results that the project is expected to be commissioned in the first quarter of the year, and its effects remain largely unpredictable. The most likely strategy for the company is to stock up on the byproduct previous to the project starting date, reducing the amount of petcoke available domestically, thus translating into higher prices.
For more information, placing an order, or interview inquiries, please contact Liviu Dinu, Market Services & Marketing Consultant, CW Group, by phone at +40-744-67-44-11, or e-mail at email@example.com.
About the Report
India Petcoke CFR Price Assessment, available at PetcokeWeek, is part of CW Research’s price assessment series for tradable commodities. The reports offer prompt cargo (next 30-60 day deliveries) pricing insights, regular monitoring of the market and an overview of key developments that are crucial for those involved in the cement, clinker and petcoke trade to understand. The monthly price assessments synthesize key market information based on CW Research analysts’ ongoing interactions with market participants, including traders, exporters, buyers and other stakeholders involved in the cement, clinker and petcoke trade.
More information about Petcoke Price Assessments can be found here: https://www.cwgrp.com/research/research-products/product/51-price-assessment-india-petcoke-cfr/price-assessments
About CW Group
The Greenwich (Conn.), USA headquartered CW Group is a leading advisory, research and business intelligence boutique with a global presence and a multi-industry orientation. CW Group is particularly recognized for its sector expertise in heavy-side building materials (cement), light-side building materials, traditional and renewable power & energy, petrochemicals, metals & mining, industrial minerals, industrial manufacturing, bulk cargo & shipping, among others. We have a strong functional capability, grounded in our methodical and quantitative philosophy, including due diligence, sourcing intelligence, feasibility studies and commodity forecasting. www.cwgrp.com
PO Box 5263, Greenwich, CT 06831, USA
Liviu Dinu (firstname.lastname@example.org)
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