【Calcined Petroleum Coke】Prices Edge Up, Market Dynamics Analysis

Market Overview

As of December 9, the average market price of calcined petroleum coke was RMB 2,374/ton, up RMB 11/ton from the previous trading day, marking a 0.47% increase. The low-sulfur calcined coke market remains stable in trading, with downstream electrode manufacturers' stockpiling below expectations. The price increase for low-sulfur calcined petroleum coke is mainly driven by rising petroleum coke prices. Mid- to high-sulfur calcined petroleum coke trades are relatively active, with prices slightly following the upward trend due to ongoing increases in raw material costs.

Regional Market Prices

· Low-Sulfur Calcined Petroleum Coke

o Using Jinxi and Jinzhou petroleum coke as raw materials: RMB 3,650–3,950/ton.

o Using Fushun petroleum coke: RMB 4,500–4,750/ton.

o Using Liaohe and Binzhou Zhonghai petroleum coke: RMB 3,700–4,100/ton.

· Mid-High Sulfur Calcined Petroleum Coke

o (Sulfur 3.0%, no specific trace element requirements): RMB 1,950–2,050/ton.

o (Sulfur 3.5%, no specific trace element requirements): RMB 1,800–1,900/ton.

o (Sulfur 3.0%, vanadium 400): RMB 2,550–2,650/ton.

Supply

National daily supply of commercial calcined petroleum coke stands at 27,563 tons, with an operating rate of 61.97%, unchanged from the previous trading day.

Upstream Market

• Petroleum coke prices remain stable under Sinopec's refineries. Downstream anode material orders are sufficient, with active shipments driven by restocking needs. In East China, refineries such as Yangzi Petrochemical, Shanghai Petrochemical, and Gaoqiao Petrochemical are steadily supplying. Northern refineries like Cangzhou are in the trial phase of storage-use coke. CNPC's northeast refineries maintain steady orders, while bidding activities at Jinxi and Dagang suggest price hikes.

Downstream Markets

• Graphite Electrodes: Rising costs persist, but weak downstream demand and sluggish bidding activities hinder price increases. Enterprises remain cautious with quotations, relying on negotiated settlements.

• Electrolytic Aluminum: Ahead of the Central Economic Work Conference, market sentiment is improving, and spot aluminum prices are slightly up.

• Anode Materials: The market remains stable, but intense competition due to oversupply of mid- to low-end products and homogenization pressures keeps transaction prices low.

Market Outlook

With petroleum coke prices continuing to rise, calcined coke production costs are under significant pressure. Baichuan Yingfu predicts further price increases for calcined petroleum coke in the short term.

(Source: Baiinfo)

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