【Petroleum Coke】August 21 Market Summary: Prices Remain Stable with Minor Fluctuations; Limited Short-Term Demand Support

Market Overview

On August 21, the average price of petroleum coke in the market was 1,745 RMB/ton, an increase of 2 RMB/ton from the previous working day, representing a rise of 0.11%. Currently, petroleum coke market prices remain largely stable, with some refineries adjusting coke prices based on their sales performance, with a range of 30-60 RMB/ton. 

Currently, Sinopec refineries are primarily maintaining stable prices and shipments, with steady demand from downstream aluminum carbon materials and rigid demand from anode materials. In East China, Shanghai Petrochemical, Gaoqiao Petrochemical, and Yangzi Petrochemical are shipping 4#B petroleum coke, while Jinling Petrochemical mainly supplies 3A and 4B. Petroleum coke shipments in the Northwest are stable, with steady downstream procurement. PetroChina's refinery prices are largely stable, with downstream buyers mostly purchasing as needed and anode material procurement being cautious. Orders for low-sulfur coke anode materials in the Northeast are declining. Lanzhou Petrochemical in the Northwest plans to start a 27-day maintenance on September 1, with stable shipments and low inventory. Yunnan Petrochemical in Southwest China is expected to start producing high-sulfur coke next week to replenish its internal inventory. CNOOC's Huizhou Petrochemical maintains stable prices this week, while CNOOC Asphalt has increased prices by 30 RMB/ton, with other refineries shipping based on orders.

Local Refineries

Currently, the local refinery petroleum coke market is experiencing stable shipments, with some narrow price fluctuations. The downstream carbon market remains stable, sustaining demand for petroleum coke. Some refineries are performing well in terms of shipments, and with low inventory, coke prices have been slightly increased by 20-60 RMB/ton. However, some refineries are not performing well in terms of shipments, and have reduced coke prices by 30-50 RMB/ton to balance sales. The market is also experiencing fluctuations: Wantong Petrochemical's petroleum coke sulfur content has decreased to around 3.2%, and vanadium content has dropped to 300 PPM.

Imported Coke

Downstream market performance is generally weak, and companies are cautious in receiving goods, mainly purchasing on-demand. The imported petroleum coke market is under pressure in terms of shipments.

Supply

As of August 21, 14 coking units nationwide are undergoing regular maintenance, with a national daily petroleum coke output of 85,525 tons. The coking unit operating rate is 67.44%, an increase of 0.98% from the previous working day.

Demand

The downstream aluminum carbon market has a limited profit margin, leading to rigid demand for petroleum coke. The anode material market is seeing a downward trend in inquiry and order volumes, with companies mainly producing to order, leading to average demand for raw petroleum coke. The graphite electrode market is experiencing declining demand, with companies facing poor sales performance and cautious procurement of petroleum coke. The silicon carbide industry and the Southern fuel market still have demand for high-sulfur shot coke.

Market Outlook

The downstream market remains weak, with limited demand for petroleum coke, providing no strong support for the petroleum coke market in the short term. It is expected that the petroleum coke market prices will remain stable tomorrow, with some refineries experiencing fluctuations ranging from 10-50 RMB/ton. Baichuan Yingfu predicts that shot coke prices will continue to remain stable in the near future.

(Source: Baiinfo)

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