【Coke Prices】February 25: Petroleum Coke Prices Continue to Rise, Clear Support...

Calcined petroleum coke, with its high carbon content, low sulfur, and low impurities, plays a vital role in modern manufacturing, especially in the aluminum and steel industries.

【Coke Prices】February 25: Petroleum Coke Prices Continue to Rise, Clear Support in the Calcined Petroleum Coke Market

Petroleum Coke Market Overview

On the 25th, China's petroleum coke market showed active trading performance, with refinery coke prices continuing their upward trend. Shipments in the mainstream market remained stable, while local refinery coke prices continued to rise.

Domestic Coke: Sinopec refineries implemented the latest post-holiday prices, and positive downstream procurement sentiment supported medium- and high-sulfur petroleum coke prices to increase by RMB 20–40/ton. PetroChina and CNOOC refineries mainly executed previous contracts, with no adjustments to transaction prices. In the local refinery market, order signings increased and market trading sentiment was active. Transaction prices continued to rise, while a few refineries slightly reduced prices to promote shipments. In Shandong, market prices saw more increases than decreases, with gains ranging from RMB 10–80/ton. In East China and Central China, shipments from some refineries were average, and prices declined by RMB 20–30/ton.

Imported Coke: Market trading sentiment was positive. High-sulfur shot coke resources were in tight supply, and strengthened downstream inquiries drove transaction prices up slightly.

Demand Side: Downstream purchasing sentiment remained positive. The traditional carbon market showed good willingness to enter the market, and rigid demand procurement drove an increase in petroleum coke shipment orders. In the fuel sector, market participation enthusiasm was high, while inquiry sentiment in the silicon carbide sector improved, strengthening support for shipments of some shot coke products.

Mainstream coke prices are expected to maintain an overall stable trend, with local refineries adjusting prices in line with the market by RMB 10–100/ton.

Calcined Petroleum Coke Market Overview

On the 25th, China's calcined petroleum coke prices saw isolated declines, with the average price closing at RMB 3,515/ton, unchanged from the previous working day.

Low-Sulfur Calcined Petroleum Coke: Prices remained relatively firm in line with raw material costs. Enterprises still faced cost pressure, but downstream purchasing enthusiasm slowed. Most companies focused on executing contracts, with rigid demand procurement mainly from the graphite electrode and graphite cathode sectors.

Medium- and High-Sulfur Calcined Petroleum Coke: Prices for specification-grade cargoes were firm and moved upward, while shipments of standard-grade products remained stable. Enterprises primarily executed contracts, and overall market prices remained generally stable.

In the near term, low-sulfur calcined petroleum coke prices are expected to remain stable, while medium- and high-sulfur calcined petroleum coke prices are expected to trend slightly upward.

Anode Material Market Overview

On the 25th, artificial graphite prices remained stable. Mainstream prices for mid-range products were RMB 25,500–34,500/ton; high-end power products were RMB 31,500–36,500/ton; digital-grade products were RMB 45,000–65,000/ton; and low-end products were mainly priced at RMB 19,500–25,500/ton.

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