【Petroleum Coke】Steady with Small Increases!

Market Overview

As of October 24, the average price of petroleum coke is 1,764 RMB/ton, reflecting an increase of 5 RMB/ton, or 0.28%, from the previous trading day. The petroleum coke market remains stable, with minimal fluctuations in prices from both major and local refineries. Demand from the aluminum and steel sectors remains steady, and orders for anode materials have seen a slight uptick.

Key Regional Market Prices

Currently, refineries under Sinopec are maintaining stable prices for petroleum coke, with steady demand from the aluminum carbon sector and an active trading atmosphere. In Shandong, Qilu Petrochemical primarily produces 4A and low-sulfur coke, reporting good sales. Qingdao Petrochemical mainly produces 3B, while Jinan Refinery focuses on 2B, with stable sales of high-sulfur coke in Qingdao. In the Northwest, Taha Petrochemical has slightly increased production this month, leading to a rise in sales volumes outside Xinjiang. Refineries under PetroChina are actively selling petroleum coke, with prices in Northeast China rising by 100 RMB/ton at Daqing, Fushun, Jinzhou, Jinxin, and Jilin refineries. This increase is driven by tight supply of low-sulfur coke and a downstream procurement mentality favoring stockpiling amid rising prices, providing market support and leading to frequent price hikes for low-sulfur coke. In the Northwest, refinery sales remain stable, with aluminum and silicon manufacturers purchasing as needed. Currently, refineries under CNOOC are actively fulfilling orders.

Regarding local refineries, the petroleum coke market is currently stable, with prices showing narrow fluctuations. Downstream demand for petroleum coke remains, supported by essential procurement needs. Prices for mid-low sulfur petroleum coke are generally stable, fluctuating by 10-100 RMB/ton. However, high-sulfur ordinary petroleum coke is experiencing increased selling pressure, prompting price adjustments downward by 10-20 RMB/ton for some refineries, while a few stable-selling refineries have increased prices by 20 RMB/ton. Additionally, the sulfur content of the first phase of Panzhihua Baolai’s petroleum coke has dropped to 2.8%, and that of the second phase is around 3.3%, leading to price increases of 90-110 RMB/ton. Current market fluctuations include the suspension of operations at Jincheng Petrochemical's old coking facility, with the specific restart time yet to be determined. Shandong Qicheng Petrochemical's latest sulfur content for petroleum coke is approximately 2.6%.

Supply Situation

As of October 24, there are 10 conventional coking units undergoing maintenance across the country, with a national daily output of 89,315 tons of petroleum coke and a coking operating rate of 70.43%, down by 0.65% from the previous working day.

Demand Analysis

The downstream aluminum carbon market is purchasing petroleum coke as needed. The demand for anode materials shows signs of recovery, although new orders are limited. The silicon carbide industry and the southern fuel market still have demand for high-sulfur coke, while the graphite electrode market shows limited demand, leading to stable procurement of petroleum coke.

Market Outlook

The supply of domestic petroleum coke is ample, with some downstream procurement needs; however, support for prices remains limited. In the short term, the petroleum coke market is expected to remain stable, with some high-sulfur coke potentially experiencing slight downward adjustments of 10-50 RMB/ton. Prices for high-sulfur sponge coke are also expected to remain stable.

(Source: Baichuan Yufu)

Feel free to contact us anytime for more information about the petroleum coke market. Our team is dedicated to providing you with in-depth insights and customized assistance based on your needs. Whether you have questions about product specifications, market trends, or pricing, we are here to help.