【Calcined Petroleum Coke】Prices Fall Again, Market Caution Intensifies!

Market Overview

On March 13, the average market price of calcined petroleum coke was 3661 RMB/ton, down 92 RMB/ton from the previous working day, a decrease of 2.45%. Currently, the low-sulfur calcined petroleum coke market faces trading pressure. Despite price cuts, shipments remain below expectations, with downstream buyers increasingly adopting a “buy on rise, not on fall” attitude, leading to cautious procurement and mostly maintaining demand-based purchases. The mid-to-high sulfur calcined petroleum coke market remains weak and stable, affected by bearish raw material trends. New orders are scarce, and downstream purchasing has slowed.

Main Regional Market Transaction Prices

Market Prices

• Low-sulfur calcined petroleum coke (using Jinxi and Jinzhou petroleum coke as raw materials): 6000-6500 RMB/ton

• Low-sulfur calcined petroleum coke (using Fushun petroleum coke as raw material): 6500-7000 RMB/ton

• Low-sulfur calcined petroleum coke (using Liaohe and Binzhou CNOOC petroleum coke as raw materials): approximately 5800-6500 RMB/ton

• Mid-to-high sulfur calcined petroleum coke (3.0% sulfur, no requirement for trace elements): Previous ex-factory contract price 2500-2700 RMB/ton in cash; current negotiation price remains 2500-2700 RMB/ton in cash

• Mid-to-high sulfur calcined petroleum coke (3.5% sulfur, no requirement for trace elements): Previous ex-factory contract price 2350-2500 RMB/ton in cash; current negotiation price remains 2350-2500 RMB/ton in cash

• Mid-to-high sulfur calcined petroleum coke (3.0% sulfur, vanadium 400): Previous contract price 3900-4300 RMB/ton in cash; current negotiation price remains 3900-4300 RMB/ton in cash

Supply Situation

Currently, the daily supply of commercial calcined petroleum coke in China is 25,809 tons, with an operating rate of 56.46%. Market supply remains stable compared to the previous working day.

Upstream Market

Petroleum Coke: Sinopec's refineries show average shipment performance, and overall market confidence remains weak. Sinopec's mid-sulfur petroleum coke price adjustments are slow, and with bearish market expectations, buyers are only purchasing as needed. Mid-sulfur coke prices remain stable in East China, while South China's Beihai Refinery is scheduled for maintenance at the end of the month, leading to a slight supply contraction and stable shipments. PetroChina's refineries are mainly fulfilling orders and maintaining price stability. Low-sulfur coke refineries continue normal production, and northwest refineries ship according to demand, mainly supplying aluminum carbon materials. CNOOC's refineries mostly ship according to orders, with Zhoushan Petrochemical continuing its normal auctions.

Downstream Market

Graphite Electrodes: The graphite electrode market remains sluggish due to weak demand. Although there are some inquiries, actual purchases are limited. Downstream buyers remain cautious, and the lack of demand support, combined with falling costs, keeps graphite electrode prices from rising, leading the market to focus on price stability.

Electrolytic Aluminum: Shenzhen has introduced a policy to support car trade-ins, offering subsidies for replacing scrapped vehicles with new ones, encouraging automotive upgrades. As a result, spot aluminum prices have risen.

Anode Materials: The anode materials market remains temporarily stable, with no significant improvement in supply-demand relationships. The industry's overall capacity utilization rate is still below expectations. Due to limited demand release from downstream battery manufacturers and an oversupply of anode materials, competition in the market remains intense, and pressure on anode companies persists.

Market Outlook

After raw material price cuts, low-sulfur calcined petroleum coke prices are expected to stabilize, though company shipments remain average. Mid-to-high sulfur calcined petroleum coke shipments have slowed, and prices are expected to follow raw materials with slight downward adjustments.

(Source: Baiinfo)

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