Indian state-controlled refner IOC has cut the basic November sales prices of petroleum coke at its three refneries by over 5pc, ahead of the usual mid-month revision that was expected in December. The state-controlled refner reduced the sales prices of petroleum coke because of subdued demand. IOC reduced the price of coke sold at its Koyali refnery in west India’s Guja-rat state by 1,000 rupees/t ($12.24/t) to Rs17,550/t. Prices at its Paradip refnery on India’s east coast were also cut by Rs1,000/t to Rs16,780/t. Prices for coke at the Haldia refnery on India’s east coast were reduced by Rs1,000/t to Rs16,950/t. But IOC kept prices at its Panipat refnery in north India’s Haryana state unchanged at Rs19,690/t.
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