【Petroleum Coke】 Domestic Refinery Resumptions Increase, Boosting Petroleum Coke Supply
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【Petroleum Coke】 Domestic Refinery Resumptions Increase,
Boosting Petroleum Coke Supply
After the May Day holiday, Chinese domestic petroleum coke market has entered another consolidation phase. Downstream buyers remain cautious, and the overall support for petroleum coke sales remains moderate. It is expected that several refineries, previously under maintenance, will gradually resume operations in May, while imported petroleum coke continues to enter the domestic market, keeping the supply ample. Downstream companies are ramping up production, but the terminal market shows mixed support, providing limited boost to the petroleum coke market. To learn more about the specifications on graphitized petroleum coke performance.
From supply aspect, starting from the end of Q1, domestic refineries have gradually entered their maintenance periods, causing a slight decrease in domestic supply. In April, a total of 21 delayed coking units with an annual capacity of 22.75 million tons underwent maintenance, while two units with a combined capacity of 6.4 million tons resumed production. The monthly maintenance loss reached 237,600 tons.
In May, eight production enterprises with a total annual capacity of 9.85 million tons are scheduled to resume operations, primarily in the mid-to-late month. Meanwhile, five refineries with a combined annual capacity of 8.9 million tons will enter maintenance, mainly in early May. Overall, the supply of domestic petroleum coke in May is expected to see a slight increase compared to April, with monthly output around 2.6 million tons.
In early May, domestic petroleum coke supply may see a slight reduction. With downstream demand warming up, some refineries might increase their coke prices by around 100 yuan/ton. As supply gradually increases in the later part of the month and with cautious downstream market entry, market transactions might stabilize, with limited room for significant price hikes. However, individual refineries may adjust their prices narrowly based on their sales performance. Stay updated on June's petroleum coke market by following us.
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