The price of petroleum coke in the Indian market is expected to rise due to increasing imports from Saudi Arabia and the US due to the high demand from the downstream cement industries. 'The imports are expected to be doubled by the end of the year compared to 2021," stated executives in India's top cement industries. This surge in demand can be traced to the increasing cost of the alternate feedstock of coal. Coal prices globally are at an all-time high because of fears of a supply crunch owing to the ban on Russian coal imports by several European countries because of Moscow's invasion of Ukraine.

Petroleum Coke is a refined coal product but produces more energy than coal when burned. Still, due to its impact on the environment owing to the toxic emissions, its usage is permitted by the Indian government only in cement kilns as sulphur dioxide emissions are absorbed by limestone and a few metal refineries. Importing fuel-grade Petroleum coke was limited because of soaring prices and tight supply in 2021, forcing cement manufacturers to switch to coal as a feedstock. Now (MAY 2022), the coal supply is diverted to meet the energy crisis, and the cement manufacturers must rely on Petroleum Coke, which leads to a rise in demand for Petroleum Coke, ultimately paving the way for an increase in imports.

Consumption of Petroleum Coke has surged 34% in the first quarter of 2022, the highest rise in a single quarter for the last six years. The price hike in downstream cement commodities increases Petroleum Coke prices. According to ChemAnalyst, Petroleum coke prices will continue to follow the upward trend throughout the second quarter. Due to the ongoing conflict in the East European region, upstream coal prices in further months are expected to be volatile in the Indian Market-Petroleum Coke in the Indian market is expected to follow a similar trend.