The energy market was fairly stable in December with relatively lower oil prices. Coal also presented a stable picture and is now hovering just below US$100 for API2 contracts. API4 contracts keep lagging by US$6-8.
Meanwhile, lower production and fair demand drove petcoke prices slightly upwards. Therefore, the discounts against coal fell in December and are now back in the neutral zone. On 22 December 2025 the discount for 6.5 per cent sulphur petcoke FOB sold at US$70.00 is 36 per cent when compared with API4 coal sold at US$88.00 in the 4Q25. The CIF ARA 6.5 per cent petcoke contract sold at US$97.00 is at a discount of19 per cent when compared with API2 coal sold at US$95.50 in the 4Q25.
Petcoke with 6.5 per cent S is expected to move within the US$65-75 range with resistance at US$70, US$75, US$88, US$95 and US$105. Support is at US$70, US$65, US$58, US$50 and US$45 with multi-year support at US$43. For 2025 a range of US$60-75 is forecast.
by Frank O. Brannvoll, Brannvoll ApS, Denmark
