China's petroleum coke import & export data analysis 

China is a major producer and consumer of petroleum coke; In addition to domestic petroleum coke, we also need to import large quantities to meet the demand of downstream areas. This paper briefly analyzes the import and export of petroleum coke in recent years.

From 2018 to 2022, China's petroleum coke import showed an upward trend, reaching a new historical high of 12.74 million tons in 2021. From 2018 to 2019, the import of petroleum coke showed a downward trend, mainly due to the weak domestic demand for petroleum coke. In addition, the United States imposed an additional 25% import tariff, resulting in the import petroleum coke decrease. Since March 2020, import enterprises can apply for tariff exemption. Foreign fuel petroleum coke price is lower than that of domestic fuel petroleum coke. Although foreign imports declined in the second half of the year due to the impact of the epidemic, but overall higher than in previous years. In 2021, under the influence of China's double control policy of energy consumption and production restriction, domestic supply has been strained, and the import volume has increased significantly, reaching a record high. The domestic demand will remain strong in 2022, and the total import volume is expected to reach about 12.5 million tons, which is also a great year of import. Based on forecasts of domestic downstream demand and delayed coking unit capacity, petroleum coke imports will also reach around 12.5 million tons in 2023 and 2024, and the demand for foreign petroleum coke will only increase.

From 2018 to 2022, petroleum coke products export volume has decreased year by year. China is a major consumer of petroleum coke, and its products are mainly used for domestic demand, so its export volume is limited. In 2018, the maximum export volume was only 1.02 million tons. Affected by the epidemic situation in 2020, domestic petroleum coke export was blocked, only 398000 tons, a year-on-year decrease of 54.4%. In 2021, domestic petroleum coke resources supply was tight, therefore, while the demand has increased significantly, the export volume continues to decrease. In 2022, total export volume is expected to be about 260,000 tons, and based on domestic demand and related production data in 2023 and 2024, total export volume is expected to remain at a low level of about 250,000 tons. Thus, the impact of petroleum coke export on China's domestic petroleum coke market can be described as "insignificant".

From the perspective of import sources, the structure of domestic petroleum coke import sources has not changed much in the past five years, mainly from the United States, Saudi Arabia, Russia, Canada, Colombia and Taiwan, China. The top 5 imports accounted for 72% to 84% of the total imports of the whole year. Other imports were mainly from India, Romania and Kazakhstan, accounting for 16-27 percent of total imports. In 2022, domestic demand has increased significantly, and petroleum coke price has also risen sharply. Due to the impact of international military action and low prices, Venezuela will import more coke from January to August 2022, becoming the second largest importer, while the United States will still be the first.

To sum up, the import and export pattern of petroleum coke will not change significantly in recent years. China is still a big importer and consumer. Domestic petroleum coke is mainly used for domestic demand, with a small export volume. The index and price of imported petroleum coke have certain advantages, which will also have a certain impact on the domestic petroleum coke market. If need to fully understand the petroleum coke market, welcome to consult us for enquiry.