July was a quiet month in the energy markets as geopolitical developments in the Middle East cooled slightly. Freight rates slipped from highs.
Brent oil fell below US$70/bbl and traded in the narrow US$67-72 range. Coal also retraced with API4 returning to US$95 and API2 settling just above US$100.
Petcoke remained on a stable to negative price in July with discounts in the neutral zone. Cement buyers are looking to secure the still low petcoke rates.
On 25 July the discount for 6.5 per cent sulphur petcoke FOB sold at US$65 is 45 per cent when compared with API4 coal sold at US$94.00 in the 3Q25. The CIF ARA 6.5 per cent petcoke contract sold at US$90.00 is at a discount of 31 per cent when compared with API2 coal sold at US$104.00 in the 3Q25.
Petcoke with 6.5 per cent S is expected to move within the US$63-75 range with resistance at US$72, US$80, US$88, US$95 and US$105. Support is at US$63, US$58, US$50, US$45 and US$41 with multi-year support at US$41. For 2025 a broad range of US$50-75 is forecast.
by Frank O. Brannvoll, Brannvoll ApS, Denmark
