Indian state-controlled refiner IOC has cut the basic sales prices of petroleum coke at its four refineries following weak demand and recent softness in seaborne rates. IOC reduced the price at its Panipat refinery in northern Haryana state by 210 rupees/t ($2.50/t) to Rs18,180/t. Prices at the Haldia refinery on India's east coast were reduced to Rs16,040/t from Rs16,250/t. Prices at its Paradip refinery on India's east coast were cut to Rs15,870/t from Rs16,080/t.
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