India: The government has raised the import duty on petcoke to 10% from 2.5%. This follows the abolition of a ban on petcoke and furnace oil to the cement and power industries in Delhi, Haryana, Rajasthan and Uttar Pradesh by the Supreme Court, according to Reuters. The increase in import duty is expected to create a rise in coal imports as companies change their energy mix. Shree Cement, JK Cement, J K Lakshmi Cement, UltraTech Cement and Mangalam Cement are all expected to be particularly affected by the tariff change. India is the world’s biggest consumer of petcoke, with much of it imported from refineries in the US.
Indian cement producers hit by rise in import duty on petcoke
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