【Petroleum Coke】April 21: Mixed Price Movements, Weak Calcined Petroleum Coke...

【Petroleum Coke】April 21: Mixed Price Movements, Weak Calcined Petroleum Coke Transactions

Overview of the Petroleum Coke Market

Recently, the trading atmosphere in China's petroleum coke market has been generally moderate. Mainstream refineries have been executing orders and maintaining stable prices for external sales, while independent refineries are actively shipping cargoes. Transaction prices have shown narrow fluctuations, ranging from 20–150 RMB/ton.

Chinese Domestic Coke:

Mainstream refineries are mainly executing contractual orders, with stable production and sales, and good shipment willingness. Independent refineries are actively shipping, and downstream purchasing enthusiasm remains positive, driving transaction prices of some bidding refineries up by 20–170 RMB/ton. Jingbo Petrochemical has adjusted specifications and is implementing new pricing. In Northeast China, independent refineries' specification-grade products are selling well, while the Jincheng Petrochemical Haoye plant has entered maintenance.

Imported Coke:

Recently, port inventory digestion has been acceptable, and newly arrived petroleum coke has basically been warehoused. Downstream procurement sentiment remains cautious, and traders are mainly executing orders, with transaction prices fluctuating within a narrow range.

Demand Side:

Supported by sentiment and rigid downstream demand, overall downstream inquiry activity has increased. The carbon sector is operating steadily, and anode material production remains active, providing strong support for petroleum coke shipments.

Low-Sulfur Coke:

In the short term, the market is expected to remain stable. Downstream acceptance of high-priced petroleum coke is limited, making further price increases difficult. Prices are expected to fluctuate within a range of about ±50 RMB/ton.

Medium- and High-Sulfur Coke:

The mainstream market remains stable, with refineries mainly executing contracts. After price declines in independent refineries, shipment speeds have accelerated. Transaction prices are expected to fluctuate in line with the market, within a range of 10–150 RMB/ton.

Overview of the Calcined Petroleum Coke Market

Recently, China's calcined petroleum coke prices have remained generally stable, with the average price at 3,660 RMB/ton, unchanged from the previous working day.

①　Low-Sulfur Calcined Petroleum Coke: Cost support from low-sulfur raw materials remains strong. CNOOC market tender prices are stable with slight adjustments in some cases. Downstream buyers remain cautious, but due to high costs, low-sulfur calcined coke prices continue to operate at elevated levels.

②　Medium- and High-Sulfur Calcined Petroleum Coke: The anode market operating rate remains stable, while the anode material sector mainly purchases on demand, resulting in average transaction performance. Downstream procurement enthusiasm is acceptable, and prices for medium- and high-sulfur calcined petroleum coke remain stable.

Price Forecast

① Low-Sulfur Calcined Petroleum Coke: Downstream demand is mainly rigid. Raw material prices remain firm, while support from the steel carbon sector is relatively weak. Prices are expected to remain stable.

② Medium- and High-Sulfur Calcined Petroleum Coke: Aluminum prices remain at relatively high levels, and prebaked anode operating rates are maintained at around 75%. The anode material sector continues to operate at high utilization rates, but procurement sentiment is slowing. With weak raw material markets, calcined petroleum coke prices are expected to trend slightly downward.

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