【Petroleum Coke】Market Price: Low-Sulfur Coke Continues to Increase

Market Overview

On January 6, the average market price of petroleum coke was 2040 RMB/ton, stable compared to the previous working day. The market showed differentiated trading today, with major refineries keeping prices stable, while some slightly raised prices. Local refineries with good mid- and low-sulfur coke indicators saw firm prices, and some high-sulfur coke prices rebounded due to improved sales.

Main Regional Market Transaction Prices

• Sinopec refineries had decent sales, and prices of anode coke in the Yangtze River region were slightly pushed up by 30-50 RMB/ton, starting January 5. Prices increased by 30 RMB/ton at Anqing Petrochemical, Jiujiang Petrochemical, and Jingmen Petrochemical, while Hunan Petrochemical raised prices by 50 RMB/ton. Carbon anode coke prices remained stable.

• Refineries in North China saw stable sales, with Cangzhou refineries focusing on 3C and 4A grades, Shijiazhuang refineries mainly producing 4A, and Yanshan Petrochemical delivering 4B coke.

• PetroChina refineries showed stable trading overall. In Northeast China, low-sulfur coke demand remained decent, with downstream anode material customers purchasing according to orders before the Spring Festival. Aluminum carbon anode companies were replenishing stock as needed, and graphite electrode demand was stable. Refineries in Northwest China focused on carbon anode material demand.

• CNOOC refineries were delivering according to demand.

• Local refineries also saw decent trading, with most refineries raising prices. Recently, local refinery coking plants had average profit performance, with some expected to reduce production or shut down. This positive supply-side trend supported petroleum coke prices. As high-sulfur coke prices continued to fall recently, downstream purchasing enthusiasm improved, and some high-sulfur coke was sold with prices increasing by 10-80 RMB/ton. Petroleum coke with sulfur content below 3.0% was sold smoothly, and prices remained firm, fluctuating slightly by 30-50 RMB/ton. Today, Xintai Petrochemical South Plant reduced the sulfur content of its petroleum coke to 3.8%, while the North Plant reduced it to 3.7%. Tianhong Chemical's petroleum coke sulfur content rose to 4.26%, and vanadium content increased to 421 PPM.

Imported Coke

Recently, ships have been arriving at ports, and downstream companies have been picking up orders. Port deliveries have remained steady, with most imported coke prices maintaining stable transactions.

Supply Side

As of January 6, there were 12 regular maintenance shutdowns of coking plants across the country. The daily production of petroleum coke was 90,895 tons, with a coking plant operating rate of 70.93%, a slight decrease of 0.31% compared to the previous working day.

Demand Side

Downstream demand for petroleum coke remains stable, particularly for aluminum carbon products and anode materials. The graphite electrode market has seen slow trading, with no significant changes in mainstream prices. Procurement of petroleum coke by graphite electrode companies remained weak but stable. The silicon carbide industry and the Southern fuel market still show demand for high-sulfur lump coke.

Market Outlook

The petroleum coke market is expected to stabilize, with continued demand from downstream carbon products. It is anticipated that refineries will raise prices for low-sulfur coke in short term. Local refineries will adjust prices based on their sales conditions, with fluctuations of 10-50 RMB/ton. It is also expected that lump coke prices will stabilize and transition.

(Source: Baiinfo)

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