Bearish pressure pulls Atlantic petcoke prices lower

摘要

Petcoke prompt prices fell sharply into the main spot markets of Turkey and India this week. Weak demand in the Atlantic, falling coal prices and uninterrupted coker production in the United States Gulf of Mexico continue to heap downward pressure on prices. The high-sulphur market (4.0-5.5) saw renewed interest from the usual customers in India. A cement producer has bought a Supramax at $53/t CIF Krishnapatnam, basis 7,500 kc NAR, for November delivery. The cargo will load out of the United States Gulf of Mexico. Freight costs are estimated at $25/t leaving a netback price of $28/t FOB United States Gulf. This is the lowest-price CIF spot deal into India since 2006. The same industrial bought two October Supramaxes and a November Panamax, both loading out of the US Gulf, in a price range of $55-56/t CIF Krishnapatnam, two weeks ago.