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SunSirs: The Supply of Petroleum Coke is Sufficient in China, and the Price Fluctuates
September 20 2023 10:28:46SunSirs(Selena)

According to the Commodity Analysis System of SunSirs, as of September 18, the price of refined petroleum coke in the Shandong market was 1,934.00 RMB/ton, a decrease of 0.26% compared to September 11, 1,939.00 RMB/ton.

On September 18th, the petroleum coke commodity index was 150.42, a decrease of 2.34 points from yesterday, a decrease of 63.20% from the cycle's highest point of 408.70 points (2022-05-11), and an increase of 124.88% from the lowest point of 66.89 points on March 28th, 2016. (Note: The cycle refers to the period from September 30th, 2012 to the present)

The international crude oil market has continued to rise recently. The main reason is that the expectation of supply tightening has overshadowed concerns about slowing economic growth and increasing US inventory. Saudi Arabia and Russia have extended their plan to reduce crude oil supply by 1.3 million barrels per day until the end of the year, as the sustained supply gap caused by the production reduction is significant, which may lead to tight crude oil supply in the fourth quarter; According to a report released by the EIA on Wednesday, US crude oil inventories unexpectedly increased by 4 million barrels last week, with analysts expecting a decrease of approximately 1.9 million barrels; The demand for gasoline and diesel in the United States remains strong, especially with a significant increase in diesel futures.

During this cycle, imported petroleum coke from domestic ports continued to arrive at the port, and import traders were active in shipping, with fast shipping speed. The storage of petroleum coke at the port continued to decrease. The overall shipment of local refining petroleum coke is average, with sufficient market supply. Refineries are actively shipping, and the price of local refining petroleum coke is mixed.

As of September 15th, there were 385 silicon metal furnaces operating in China, with an overall furnace opening rate of 52.81%, an increase of 5 furnaces compared to the previous month. The number of silicon metal furnaces continued to increase slightly, with a slight increase in operating rates in Xinjiang, a stable high in operating rates in Yunnan, and a weekly increase in operating rates in Sichuan. The operating rate of metal silicon continues to rise, and the demand for petroleum coke procurement continues to increase.

Recently, the overall stability of the medium to high calcined coke market has been the main trend. The continuous impact of domestic demand expansion policies, coupled with the traditional peak season, the high volatility of the electrolytic aluminum market, and the stable performance of the aluminum carbon market demand.

Currently, the overall trading volume of refined petroleum coke in Shandong is average, and the domestic petroleum coke market is abundant in supply. Downstream wait-and-see sentiment has increased, with on-demand procurement being the main focus. Currently approaching the National Day holiday, some downstream enterprises are starting to stock up before the holiday, and it is expected that in the near future, the refining of petroleum coke may be dominated by fluctuations and consolidation.


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