Petroleum coke prices surged this week as two tenders for US Gulf coke were hotly contested, with buyers bidding prices up to levels not seen since last year. The frst, a high-sulphur cargo, set the tone for a jump after one buyer bid well above the rest. Most traders and ce- ment buyers were sceptical of the high-$30s/t price, question- ing what drove the winning bidder to pay so much above the prevailing market, which had only just edged above $30/t after holding in the $20s/t since October.
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