Opportunistic buyers wait for US Gulf Coast petcoke prices to fall further

https://www.chemnet.com   Oct 01,2015 Platts

　　Buyers remained in an opportunistic position this week as prices for US Gulf Coast high sulfur petcoke continued to drop on an almost daily basis. Two 50,000 mt cargoes for November loading of 6% and greater sulfur petcoke originating out of the USGC were reportedly sold FOB at $32/mt and $33/mt, a trading source said.

　　Similar cargoes had sold last week for FOB $35/mt and the week of September 9 at $43/mt. In early August, prices were in the low $50s.

　　"High-sulfur pricing is falling like a stone," said one European trader. Cheap coal, competition from Saudi petcoke, an absence of Chinese demand and generally flat freight rates have contributed to the USGC's woes, sources said.

　　"Demand in most regions and market sectors has been limited," one refining source said. "Therefore, petcoke prices have fallen and are likely to continue to do so for the short term."

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