【Calcined Petroleum Coke】Low-Sulfur Sales Sluggish, Mid-to-High Sulfur Prices Continue to Rise

Market Overview

As of December 17, the average calcined petroleum coke market price remained stable at RMB 2,424/ton. Low-sulfur calcined petroleum coke saw subdued trading, with steady demand from the cathode sector and cautious procurement from graphite electrode producers. Some enterprises face sales pressure, limiting price growth. In contrast, mid-to-high sulfur calcined petroleum coke trading remained active, with prices rising due to higher raw material costs, primarily fulfilling prior orders.

Regional Market Prices

• Low-Sulfur Calcined Petroleum Coke:

o Jinxi/Jinzhou-based: RMB 3,800-4,200/ton.

o Fushun-based: RMB 4,600-5,000/ton.

o Liaohe/Binzhou-based: RMB 3,800-4,100/ton.

• Mid-to-High Sulfur Calcined Petroleum Coke:

o Sulfur 3.0%, no element limits: RMB 2,000-2,100/ton.

o Sulfur 3.5%, no element limits: RMB 1,950-2,050/ton.

o Sulfur 3.0%, Vanadium 400: RMB 2,600-2,700/ton.

Supply

Daily national supply of calcined petroleum coke is at 27,527 tons, with an operational rate of 61.89%, stable compared to the previous day.

Upstream Market

• Petroleum Coke: Sinopec refineries raised prices in most regions, with increases ranging from RMB 20-150/ton. CNOOC refineries focused on order-based shipments. PetroChina refineries mostly maintained stable prices, with low-sulfur coke inventories tight in the Northeast and steady sales in the Northwest.

Downstream Market

• Graphite Electrodes: Persistent market disarray with price divergence. Some enterprises maintain stable pricing based on sales, while others face pressure, leading to frequent low-price deals.

• Electrolytic Aluminum: Domestic retail data reflects weaker consumer demand, leading to declining spot aluminum prices.

• Anode Materials: The market remains stable, with high concentration among large manufacturers with solid downstream partnerships. Smaller players face challenges due to technical barriers and cash flow constraints, leading to low-price competition in an oversupplied market.

Market Outlook

Prices for all calcined petroleum coke grades are expected to remain stable tomorrow.

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