In India the landed cost of petcoke could increase by 5.6 per cent as a result of the import duty hike, reports Nirmal Bang Institutional Equities. The import duty on the fuel was raised in December 2017, increasing from 2.5 to 10 per cent.
The price of petcoke imported from the US reached a multi-year high of US$117/t in March 2018 and is expected to rise further.
The increased prices may not significantly change the demand for petcoke, since alternatives are equally expensive. However, the pace of demand growth for the fuel could begin to slow, according to Mint.
