IOCL and HMEL Increase Pet Coke Price in line with RIL
Indian Oil Corporation Ltd. (NSE: IOC), the country's second-largest producer of petroleum coke, has increased its pet coke prices from various refineries with effect from 3 Jan'19.
Koyali price is revised to INR 8,510/MT from INR 8,110/MT, an increase of INR 400/MT.
Panipat general price is revised to INR 8,450/MT from INR 7,950/MT, an increase of INR 500/MT. The revised price for Punjab, Haryana, Jammu & Kashmir, Chandigarh is INR 8,950/MT from INR 8,450/MT, which is also an increase of INR 500/MT.
Paradip price is revised to INR 8,210/MT from INR 7,850/MT, a reduction of INR 360/MT. The rake price is INR 7,910/MT, which is lower by INR 300/MT than price applicable for road supplies.
HPCL-Mittal Energy Ltd. (HMEL) has also increased its pet coke price from Bhatinda refinery by INR 655/MT to INR 9,750/MT from INR 9,095/MT.
Price Commentaries
State-run Indian Oil has also followed the trend of increase in pet coke price, though with varying amount, after price increase effected by RIL w.e.f. 1st of the month. Notably, price increase in the northern market is higher, because of higher demand.
At Panipat, pet coke price for Punjab, Haryana, J&K, Chandigarh, is higher by INR 500/MT than the general price.
At Paradip, IOC has also declared rake price after its commissioning of rake facility on 29 Nov'18. The rake price is lower by INR 300/MT than general price.
The price revisions by various oil companies indicate that pet coke prices have firmed up in the range of INR 300-650/MT in the recent revisions in Jan'19.
source: SteelMint
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