EGYPT DATA: Petcoke imports rise 53% on month in Aug

Egypt's petcoke imports increased month on month in August after falling for two straight months, driven by an increase in demand due to lower prices of delivered petcoke, market sources said.

In August, Egypt imported 80,001 mt of petcoke, up 53% on the month but down 18% on the year, according to data from the Port of Alexandria Sept. 19. Spain and the US were the only suppliers of petcoke to Egypt during the month.

Spain and the US have been the main suppliers of petcoke to Egypt, barring one Venezuelan shipment that entered the country in January, the data showed.

The rise in petcoke imports during the month was led by a fall in thermal coal imports as prices of delivered coal rose sharply, making petcoke a feasible option for Turkey's cement producers, market participants said.

The fall in Egypt's petcoke imports in June and July coincided with a sharp uptick in thermal coal imports as in both months the country's coal imports touched pre-pandemic highs, market participants said.

Egypt imported 611,197 metric tons of thermal coal in June and 645,899 metric tons in July as imports reached the highs last seen in June 2019.

Moreover, decreased freight rates led to a fall in the price of delivered petcoke to Turkey in Aug, market participants said.

Platts, part of S&P Global Commodity Insights, assessed weekly CIF Turkey 5.5% sulfur petcoke prices at $91.10/t on average in August, up $1.90/t on the month. Platts assessed CIF Turkey 5.5% sulfur content petcoke at $88/t Sept. 18, down $1/t from the previous week.

Platts assessed weekly CIF Med 75,000 metric ton thermal coal prices at $96.80/t on average in August, down $2.95/t on the month. Platts assessed CIF Med 75,000 mt thermal coal at $98/t Sept. 13.

August's petcoke imports entered the country via the port of Alexandria and East Portsaid and were purchased by an Egypt-based cement producer, the data showed.

In the January-Aug period, Egypt imported 486,776 mt of petcoke, up from 406,775 mt in the year-ago period.