China's refineries actively destocking,  petroleum coke market price fluctuates

This week, China's delayed coking units operating rate was 71.51%, higher than last week.

As the Spring Festival approaches, China's refineries have reduced inventory actively. The market supply is still abundant and petroleum coke price fluctuates. In terms of main refineries, Sinopec's refineries actively shipped, and individual refineries' petroleum coke price stopped dropping and went upward; The shipments of refineries under CNPC have continued to slow down, the individual refineries' petroleum coke price has a sustained recovery, the shipments of refineries under CNOOC have been in good condition, and petroleum coke price has steadily risen; Local refineries' shipments improved, and the overall petroleum coke market price maintained stable operation.

Petroleum coke market this week

Sinopec:

This week, Sinopec's refineries actively shipped goods, and the demand side procurement enthusiasm increased. The market price of petroleum coke in individual refineries stopped falling and rose.

PetroChina:

This week, PetroChina's refinery shipments slowed down, the demand-side purchasing enthusiasm dropped sharply, and the inventory pressure increased. Individual refinery market prices still has a significant adjustment.

CNOOC:

This week, CNOOC refinery shipments improved, refinery inventory at a low to medium level, Huizhou Petrochemical and Zhoushan Petrochemical coke prices maintained stable operation, Taizhou Petrochemical and CNOOC pitch rebound.

Shandong Refinery:

This week, Shandong Refinery's shipment was in good condition. The petroleum coke prices were mixed, and petroleum coke overall market price remained stable.

Northeast and North China:

This week, the Northeast region refinery shipment performance is fair, petroleum coke market prices rose and then fell, maintain a narrow range; Refinery shipments in North China performed well and market prices remained stable.

East and Central China:

This week, the shipment of Xinhai Petrochemical in East China performed well, and the market price rose slightly; Jin'ao technology petroleum coke in central China was shipped well, and the market price stopped falling and rose.

Terminal inventory

This week, the total inventories at port were about 2.5 million tons, up from last week.

This week, more imported petroleum coke arrived at ports, further increasing port inventories. With the approach of the Spring Festival, the inquiry and procurement enthusiasm of the downstream demand side have increased, and most of them are based on stock and replenishment. Port shipment frequency increased significantly from last week. Petroleum coke price at some domestic coking plants stopped falling and remained stable this week, but the import price from ports did not improve. In addition, the early import costs are high, most traders are still reluctant to sell, hoping that the market will turn around. The price of carbon-grade petroleum coke in the port has not been significantly adjusted, and the overall volume of inbound ports is more than the port dredging volume; Recently, the imported fuel grade petroleum coke price remained stable in general, and the downstream demand side either implemented the preliminary contract or lowered the new bidding price, which led to the continued weakening of importers' trading sentiment, the shipment of fuel grade petroleum coke at the port was acceptable, and the price showed a steady downward trend.  Reading more news of petroleum coke price, contact us for details.