【Petroleum Coke】Full Analysis of March Production + Profit:...

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.

【Petroleum Coke】Full Analysis of March Production + Profit: What Is Happening in the Market?

Analysis of Delayed Coking Unit Operation and 

Production in China This Month

1. Analysis of China's Petroleum Coke Production in March 2026

According to data monitoring, China's petroleum coke production in March 2026 was approximately 2.68 million tons, a year-on-year decrease of 61,100 tons, down 2.23%; compared with the previous month, it increased by about 142,900 tons, representing a month-on-month growth of 5.63%.

2. Analysis of China's Petroleum Coke Operating Rate in March 2026

During the month, the delayed coking market showed a gradual downward trend, with the average operating rate at around 65.5%. In March, a total of 7 refineries entered maintenance, involving a combined annual processing capacity of 6.45 million tons. Meanwhile, 3 delayed coking units resumed operation during the month, involving a total annual capacity of 1.65 million tons, with some refineries adjusting their production levels.

3. Analysis of Petroleum Coke Port Inventory

As of March 30, the weekly average inventory of petroleum coke at major domestic ports in China remained around 4.23 million tons. During the month, the total inbound volume of spot petroleum coke at ports was lower than the outbound volume. Imported coke continued to arrive at ports and be stocked, while downstream purchasing sentiment remained positive. Overall shipments of imported coke were smooth, and spot inventories continued to decline.

4. Profit Trend of Delayed Coking of Petroleum Coke in China

This month, profits from delayed coking of petroleum coke in China remained in a profitable range. The increase in coking product prices exceeded the rise in coking costs, resulting in a significant improvement in theoretical profits. As of March 30, some enterprises recorded profits ranging from RMB 152 to 434 per ton.

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