Coal more attractive than coke for Indian boilers

摘要

A surge in petroleum coke prices over the last few months is beginning to kill off fedgling demand from Indian industrial users, market participants say. A prolonged slide in petroleum coke prices that accelerated in August 2015 encouraged captive power plants and textile, glass and brick makers to enter the coke market. Rapidly declining coke prices from August until February resulted in cfr India 6.5pc sulphur coke falling to a nearly 50pc discount to fob Richards Bay 6,000 kcal/kg coal delivered to India. But that wide discount encouraged an explosion in demand as new industrial users entered the market and cement makers began using coke in their captive power plants as well as their kilns.