【Petroleum Coke】Price Up by 215 RMB! Prices Soaring Towards 3,000 RMB/Ton at the Start of the Year?!

Market Overview

On February 8, the average price of petroleum coke was 2,901 RMB/ton, up by 215 RMB, marking an 8.00% increase compared to the previous working day. The petroleum coke market continues to see favorable conditions, with prices rising again. The inventory of low-sulfur coke at major refineries has decreased to a low level, while imports are insufficient. Downstream enterprises are actively purchasing, boosting prices. Local refineries are seeing price increases driven by the demand for low-sulfur coke.

Key Regional Market Prices

• Refineries under Sinopec are seeing good sales, with downstream aluminum carbon producers making steady purchases. The carbon coke sales are smooth. In East China, Shanghai Petrochemical plans to stop operations for maintenance starting on the 13th, and Yangzi Petrochemical has a short-term shutdown plan for 10-15 days, with the exact dates yet to be determined. Negative materials enterprises are cautious about high-price orders but are increasing purchases of low-price negative coke to maintain normal production schedules due to low raw material inventories.

• Refineries under PetroChina in Northeast China are experiencing continuous price hikes, with increases of 1,000 RMB/ton. Low-sulfur coke is in short supply, and downstream purchases are active. In Southwest China, Yunnan Petrochemical has raised prices by 480-1,253 RMB/ton.

• Refineries under CNOOC are focusing on fulfilling orders.

• Local refineries are seeing good market transactions, with prices continuing to rise by 50-400 RMB/ton. Recently, local refineries have been impacted by poor coking profits and tight raw material supply, leading to shutdowns and reduced production. As a result, the overall market supply is shrinking. However, downstream aluminum carbon and negative materials enterprises still have purchasing demand, and the refineries' petroleum coke inventories remain low, supporting price increases. Currently, Jiangsu Xinhai Petroleum Coke has reduced sulfur content to around 2.54%, with the latest price at 3,100 RMB/ton.

• Imported coke is in demand from downstream aluminum carbon and negative materials enterprises. Moreover, there is a shortage of imported sponge coke, pushing up its price.

Demand Side

Downstream calcined petroleum coke and prebaked anode markets are stable, maintaining good demand for petroleum coke. The demand for negative materials is decent, with major manufacturers actively purchasing, benefiting the negative coke market. The graphite electrode market is relatively stable, with weak but steady demand for petroleum coke. The silicon carbide industry and the southern fuel market still have demand for high-sulfur shot coke.

Market Outlook

The petroleum coke market's supply tightness is expected to continue, with domestic supply likely to further decrease in the future. This supports a continued upward trend in prices, and downstream demand remains stable. It predicts that petroleum coke prices may continue to rise by 50-100 RMB/ton next week.The price of shot coke is expected to stabilize in the short term.

(Source: Baiinfo)

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