Indian cement makers have stepped up purchases of seaborne fuel-grade petroleum coke after a number of weeks, prompted by growing uncertainty surrounding domestic coal supplies. At least 12 Supramax coke cargoes have been booked by Indian buyers over the last few weeks. Many buyers had been operating with low fuel stocks for the last few months because of high delivered prices of coke. The urgency to secure fuel has resulted in a growing preference for Saudi Arabian 8.5pc sulphur coke among Indian buyers, market participants said.
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