Gulf petcoke prices stable; Indian demand critical for direction

摘要

U.S. Gulf petroleum coke spot prices are moving in a relatively tight range, as freight rates remain weak and tight supplies in May/early June support the market. Beyond the first half of June, there is not much tender activity and unless India returns to the spot market, prices will face renewed downward pressure. Spot interest from India remains quiet overall. There is an inquiry for a late May/early June Supramax and a target price of $55/metric tonne CIF east coast India has been indicated. Supramax shipments from the Gulf are indicated at $57/tonne CIF, but might be too rich for buyers.