Petroleum coke
Overview
Used in the manufacturing of metals, for power generation and in the production of numerous other products including glass, paint and fertilizers, petcoke is widely used. As the energy transition drives markets around the world to search for ways to reduce carbon emissions, the outlook for Petroleum coke remains uncertain.
Gain transparency into the evolving international petcoke markets with weekly and monthly prices, expert analysis and global market-moving news for fuel-grade and anode-grade petroleum coke.
Latest petroleum coke news
Browse the latest market moving news on the global petcoke industry.
EU finance ministers eye agreement on CBAM changes
EU finance ministers eye agreement on CBAM changes
Brussels, 4 June (Argus) — EU finance ministers are seeking agreement on their position for legal changes to the bloc's carbon border adjustment mechanism (CBAM), extending the scope to more downstream products and adding anti-circumvention measures. Final tweaks and clarifications specify the European Commission's power to suspend CBAM for problematic sectors. The text drawn up for finance ministers, who meet on 12 June, takes account of a majority that has spoken out against giving the commission broad empowerment to temporarily remove specific goods from CBAM under a new article 27a. Diplomats noted the risks of "jeopardising" the effectiveness of CBAM and the "imprecise" scope of the powers. To bridge differences, Cyprus, chairing discussions between diplomats, has built on a previous draft to specify the conditions that the commission could use to trigger CBAM suspension. This includes average non-CBAM-related import price increases of more than 50pc compared with average prices for the same CBAM goods over the previous 10 years. Price increases would need to be sustained over a period of at least six months. If finance ministers agree on the text on 12 June, EU states would be ready for negotiations over a final legal draft with the European Parliament after summer. Cypriot diplomats suggested article 27a remains in the European Council's draft position as a "good basis" for the talks. During a first discussion, members of parliament's environment committee broadly supported deleting the new article 27a. But some members have called for partial or full CBAM suspension . The committee is expected to vote on the issue on 6 July, followed by the whole parliament in early September. Discussions on CBAM's suspension have continued following the commission's adoption last month of a fertilizer action plan, including measures such as financial relief for farmers, and assessing stockpiling options for key fertilizers and inputs. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US coke prices slide as competition heats up
US coke prices slide as competition heats up
Washington, 27 May (Argus) — US Gulf-origin petroleum coke prices have dropped sharply over the past week, with traders competing fiercely for buyers. A pair of Turkish cement makers closed tenders late last week, looking to secure coke ahead of a holiday in the country this week. The tenders received a larger number of offers than normal, with traders aggressively lowering numbers over the course of the bidding. One cement maker that had set its starting price for 6.5pc sulphur coke at $128/t ended up closing a deal at close to $121/t on 21 May, more than $10/t below the last assessment for this grade the previous day. And this price would net back to only the low-to-mid $80s/t on an fob US Gulf basis, since the lower draught at the cement maker's port means spot freight rates for a Supramax cargo would be in the mid-to-high $30s/t or even as high as $40/t, participants said. "It seems there is a rush among sellers to get rid of coke cargoes," one Indian buyer said. Other participants echoed this sentiment, with another cement maker saying it appeared some traders had become nervous about their stock positions at US ports. Several traders agreed that there were many prompt cargoes available for the next two months, with one company alone having at least 10 still available out of the US and Mexico for the period. Sellers were similarly chasing buyers lower in the Indian market. High-sulphur coke offers dropped sharply over the course of last week from the high $140s/t on a cfr west coast India (WCI) basis to the low $140s/t by 22 May. By 23 May, a deal had concluded at $140/t cfr WCI and deals were heard in the high $130s/t by early this week. These recent deals to India were heard to have some flexibility baked in, whether of origin, such as the option to load US or Mexican coke; timing, loading in either June or July; or cargo size, between Supramax or Panamax. But one trader said that Mexican coke is not available for July, so the deals are likely to be of US origin. "I see buyers returning to the coke market," the trader said. But "no Indian buyer will pay above $140/t cfr today on WCI." While the steep drop in prices has rekindled interest from Indian cement plants, many companies likely will want to see a further decline before making any buying decisions, since they have already restocked with coal, another trader said. "We are well covered and won't buy until the price comes down to the $120s/t cfr," a second Indian cement maker said. Rising supply meets depressed demand It is hard to say with certainty whether the recent trend is more related to rising supply out of the US Gulf or falling demand from global cement makers, since coke prices have been pricing higher than coal for several weeks, one trader said. On the supply side, coke production would be expected to rise because refiners have increased runs to take advantage of demand to export middle distillates. Valero's 380,000 b/d Port Arthur, Texas, refinery began returning to normal rates following a fire in late March. But demand has been especially weak, with coal pricing at a discount to coke in most key markets for the longest period since the height of the Covid-19 pandemic. The cfr India 6.5pc sulphur coke priced at a premium to cfr India 5,500kcal/kg coal on a heat-adjusted basis for nine weeks between 18 March and 13 May, the longest period coke had held a premium to coal in India since 2021 . In Turkey, the premium to the 6,000kcal/kg coal benchmark has held for 15 weeks since 11 February, also the longest period since 2021. Cement makers usually seek a 10-20pc discount to coal to purchase coke because of its higher sulphur content and lack of a financial market. China may return to the picture Although China has in recent months been a non-starter for sellers, with bids far below offers, the sudden steep drop in Turkey and India prices has made the Chinese market potentially more attractive. Another trader was focused on the Chinese market for offering three end-June, early-July loading US coke cargoes as prices in that market were still around $145-$150/t. But other sellers said high freight costs through the Panama Canal are keeping the Chinese market uncompetitive for now. Chinese high-sulphur fuel grade demand could pick up because domestic coal prices are set to rise after a deadly accident at a Shanxi mine triggered widespread safety checks . The mining inspections' impact on coking coal supply could tighten the market and encourage silicon carbide producers to buy more high-sulphur petroleum coke. By Lauren Masterson India, Turkey coke percent of coal % Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Indian cement makers' petcoke imports may fall in 2026
Indian cement makers' petcoke imports may fall in 2026
Singapore, 13 May (Argus) — The Indian cement industry's imports of fuel-grade petroleum coke may slip sharply to around 6mn t in the 2026 calendar year because producers continue to switch to competitive thermal coal, a senior cement industry executive said at the Argus India Commodities Day event in Mumbai. Cement makers in India, the world's second-largest cement market, imported 10.67mn t of coke from origins including the US and Saudi Arabia in 2025, down slightly from 10.83mn t a year earlier, according to data from shipbroker Interocean. But imports were only at 707,000t during January-March, down sharply from 2.47mn t in the year earlier. "I don't think cement makers' coke imports can cross 6mn t this year. Receipts were sharply down in the first quarter, and most cement plants have been buying imported and domestic thermal coal to replace coke because coke prices have been at a significant premium to coal after the US-Iran war started," a senior industry procurement executive said last week. India imported 2.75mn t of US thermal coal, primarily the high-calorific value (CV) NAR 6,900 kcal/kg Northern Appalachian (NAPP) coal, in the quarter ended 31 March, up by 32pc from a year earlier, data from trade analytics platform Kpler show. Cement makers prefer NAPP coal as a replacement to coke when their prices are competitive. NAPP coal is being offered in the mid-$130s/t cfr on India's west coast, compared with offers of about $150/t for the NAR 7,500 kcal/kg US high-sulphur coke. But the low import duty of 2.75pc on NAPP coal against an import tax on 11pc on coke largely offsets the CV difference between the two fuels, making this coal a preferred fuel at current prices. Indian cement makers have significantly cut coke share in their kiln fuel mix during January-March because coal prices were more competitive. This trend is likely to be more pronounced in the current quarter. India's largest cement producer, Ultratech, cut coke share in its fuel mix to 41pc during January-March, down from 54pc in the corresponding quarter of 2025 while raising coal use, the Bombay Stock Exchange-listed firm said last month. Fellow cement maker Nuvoco Vistas reduced coke use to 37pc in January-March from 52pc in the same quarter last year. Coke supplies from Middle East countries, the second-largest source after the US, have been affected due to the war, also reducing overall supplies. Coke supplies and loading from the 460,000 b/d Satorp refinery in Saudi Arabia's Jubail, jointly operated by state-controlled Saudi Aramco and TotalEnergies, have stopped since March because vessels can only reach the refinery on the Mideast Gulf coast by traveling through the strait of Hormuz. Many vessel owners are reluctant to transit though the strait because Iran has been attacking vessels there. Meanwhile, the Yasref refinery — a joint venture between Aramco and Sinopec — in Yanbu, Saudi Arabia, continues to load but refinery runs were lower, leading to a drop in coke output, maket participants said. Costlier imports, weak rupee ups domestic coal use In addition to raising imported coal use, Indian cement makers are also securing more domestic coal to replace coke since a weaker rupee has added to overall delivered costs of imported coke and coal. The Indian rupee averaged at around 90.76 rupee to the dollar in February, weakening to Rs92.90 in March and further to Rs93.40 in April. It has slipped further to Rs94.91 so far in May, implying additional cost in rupee terms. But domestic coal is priced in rupees, shielding buyers from foreign exchange swings. Cement makers received 3.53mn t of domestic coal over January-April, up by 10pc from the year earlier, according to coal ministry data. "I won't be surprised if total coke imports by cement plants falls by 50pc in 2026," a procurement executive at a second cement maker said. "We typically buy 600,000t of coke every year, but we have only booked 125,000t so far this year." But cement makers would also be quick to switch back to coke once prices become competitive compared with coal. "The shift is an emergency response to the crisis, not a structural change," said a third cement maker. "Domestic coal has come into picture due to its wide gap with seaborne fuel, but it has quality issues." By Ajay Modi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Corpus Christi port work to curb coke exports
Corpus Christi port work to curb coke exports
Houston, 1 May (Argus) — Planned shiploader maintenance at the port of Corpus Christi, Texas, from 8 May to 22 June should temporarily curb US Gulf coke shipments and squeeze availability, market participants said. There will be no coke loadings from the port for the 45-day duration of maintenance, a trader said, leaving companies to store coke over that period or move it to other terminals. The port of Corpus Christi did not reply to a request for comment or clarify whether the outage will also affect other dry bulk commodities. Coke loadings from the port averaged roughly 146,000 metric tonnes (t)/month in January-November 2025, with no loadings in December, according to US customs data. The port then loaded 249,600t and 110,000t in January and February this year. High-sulphur coke output from the Gulf of Mexico was already set to tighten in recent weeks after a fire at US independent refiner Valero's 380,000 b/d facility in Port Arthur, Texas, in March shut a delayed coking unit and a fire at Mexican state-owned Pemex's 340,000 b/d Olmeca refinery in April damaged one of the towers of its coking unit. Narrower heavy-light crude spreads because of the Middle East war were also expected to cut supply. Stockpiling during the outage should mean higher availability for coke cargoes after late June. By Hadley Medlock Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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