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SunSirs: The Price of Petroleum Coke Rose slightly Last Week in China (January 18-25)
January 27 2021 11:02:19SunSirs(Selena)

According to the data of SunSirs, the price of petroleum coke products of domestic refineries rose slightly. The average price of Shandong market at the beginning of the week was 1,681.50 RMB/ ton, and the average price of petroleum coke at the weekend was 1,689.00 RMB/ ton, up 0.45%, up 62.33% year on year. On January 22, the petroleum coke commodity index was 131.37, unchanged from the previous day, down 15.57% from 155.59 (2018-01-25), the highest point in the cycle, and up 96.40% from 66.89, the lowest point on March 28, 2016. (Note: period refers to from September 30, 2012 to now)

The price of local petroleum coke rose steadily, while the price of some refineries rose. The price of low sulfur coke kept stable. Due to the impact of the epidemic situation, the downstream was active in receiving and preparing goods.

Upstream: the US crude oil inventory increase was bad, and the global epidemic situation was still severe. Multinational restrictive measures restrained the recovery of fuel demand. Last week, WTI crude oil prices rose 1.35% and Brent crude oil prices rose 1.81%.

Downstream: affected by heating and environmental factors, the carbon market was weak and stable; the price of electrolytic aluminum in the downstream fluctuates at a high level; the silicon metal market was stable.

Industry: according to the price monitoring of SunSirs, in the 3th week of 2021 (1.18-1.22), there were 10 kinds of commodities in the energy sector that rose month on month. The top three commodities that rose were coke (3.75%), MTBE (1.85%) and Brent crude oil (1.81%). There were 6 kinds of commodities with a month on month decrease, and 2 kinds of commodities with a decrease of more than 5%, accounting for 12.5% of the monitored commodities in the sector; the top 3 products with a decrease were LNG (-15.09%), thermal coal (-7.59%) and LPG (-3.08%). This week's average rise or fall was -1%.

SunSirs petroleum coke analysts believe that: affected by the epidemic, the downstream is positive, and it is expected that petroleum coke price may rise in the short term in China.


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