【Petroleum Coke】Market Prices at the End of November

Market Overview

On November 28, the average price of petroleum coke in China was 1929 RMB/ton, showing a decrease of 12 RMB/ton, with a decline of 0.62%. The overall trading in the petroleum coke market was moderate, with downstream trends showing weakness, providing limited support to the market prices, and the graphitized peotroleum coke specifications for reference. 

Sinopec's Perspective: Sinopec's refinery petroleum coke trading remained stable. In the South China region, Guangzhou Petrochemical's 3# coking unit has started producing coke. All petroleum coke from Maoming Petrochemical is for self-use, and Beihai refinery is shipping 4# petroleum coke. In the North China region, the shipment of medium to high sulfur petroleum coke remains stable. Cangzhou refinery is shipping petroleum coke according to 3#C/4#A, Tianjin Petrochemical is shipping according to 5# coke, and Shijiazhuang refinery is shipping according to 4#A. PetroChina's refineries in the Northeast are currently running steadily. Liaohe Petrochemical's bidding prices remained stable yesterday, and refineries in the Northeast that sell at fixed prices have gradually opened bids, with prices for December yet to be determined. In the Northwest region, the petroleum coke market remains stable, with stable prices and moderate downstream demand. Refineries under China National Offshore Oil Corporation (CNOOC) have experienced stable prices for petroleum coke at Binzhou Zhonghai Asphalt and Zhoushan Petrochemical. Meanwhile, the price of petroleum coke at Taizhou Petrochemical has seen a slight decrease.

Local Refinery Perspective: The market performance of local refinery petroleum coke trading today was moderate. Some high-priced petroleum coke shipments were under pressure, leading to a downward adjustment of prices by 10-50 RMB/ton. Some refinery petroleum coke prices, after a previous downward adjustment, have seen improved shipments. Additionally, with low inventory levels, prices have slightly increased by 10-20 RMB/ton. Notable market fluctuations today include a reduction in sulfur content to approximately 2.5-2.9% at Dongming Petrochemical's old plant.

Imported Coke Perspective: In the imported coke sector, the cost of imported sponge coke is inverted, coupled with strong downstream wait-and-see sentiment, resulting in slow deliveries at port for sponge coke. While there is a tight supply of high-sulfur pellet coke in the market, influenced by the low prices of high-sulfur pellet coke from local refineries, prices have remained stable.

Supply Aspect: As of November 28, there have been 2 routine maintenance events for coking units nationwide. The daily production of petroleum coke in China is 92,508 tons, with a coking operating rate of 73.05%, showing an increase of 1.34% compared to the previous working day.

Demand Aspect: The downstream carbon market for aluminum use is weak, resulting in on-demand procurement of petroleum coke. Silicon carbide enterprises still have demand for high-sulfur pellet coke. The procurement enthusiasm for negative electrode materials in the market is relatively weak, with average trading performance. The weak purchasing enthusiasm also extends to graphite electrodes, causing downward pressure on the market.

Future Market Forecast: The overall market for petroleum coke is moderate, and while there is remaining demand for petroleum coke downstream, the market is weak with limited support. It predicts that tomorrow, prices for some high-priced petroleum coke may continue to fall, with an expected range of 10-50 RMB/ton. The supply of imported pellet coke remains tight, and pellet coke prices shall remain stable in the short term. Feel free to contact us for petroleum coke market trend.