SunSirs: The price of Petroleum Coke Continued to Fall Last Week (December 14-18)

According to the data from SunSirs, the price of China domestic refiners' petroleum coke products continued to fall. At the beginning of last week, the average price of petroleum coke in Shandong market was 1,558.00 RMB/ ton, and at the end of last week, the average price of petroleum coke was 1,497.50 RMB/ ton, with a price drop of 3.88%, and an increase of 43.20% over the previous year. On December 18, the commodity index of petroleum coke was 116.47, which was 1.36 points lower than the previous day, 25.14% lower than 155.59 points (2018-01-25), and 74.12% higher than 66.89 points, the lowest point on March 28, 2016. (Note: period refers to 2012-09-30 to now)

The main reason for the decline in the price of petroleum coke is that refineries actively ship and sell with profit. The price of low sulfur coke is firm and the demand is stable. In the aspect of medium and lower reaches of coking plants, the supply of sulfur is generally higher than that in the lower reaches, which is affected by the general supply of sulfur.

Upstream: some countries such as Europe and the United States have started mass vaccination, and the international crude oil market is mainly optimistic. Stimulating by favorable factors such as the decline of US crude oil inventory this week, the international crude oil price rose strongly last week. Last week, the WTI crude oil price rose 5.73%, and the Brent crude oil price rose 4.58%.

Downstream: in recent days, the cost price has fallen down, and the carbon market has been shipping well; the price of electrolytic aluminum in the downstream has fluctuated at a high level; the silicon metal market has gradually decreased social supply due to the reduction of production and the increase of furnace shutdown in the southern region, and the price has continued to rise.

Industry: according to the price monitoring of SunSirs, there were 12 commodities in the energy sector's rise and fall list of commodity prices in the 50th week of 2020 (12.14-12.18), among which there were 3 commodities with an increase of more than 5%, accounting for 18.8% of the total number of commodities monitored in the plate; the top three commodities of increase were thermal coal (8.81%), DME (7.08%) and methanol (7.04%). There were two kinds of commodities that declined on a month on month basis. The top two products were petroleum coke (-3.88%) and asphalt (-0.10%). Last week, the average rise and fall was 2.63%.

SunSirs oil coke analysts believe that: the current supply of petroleum coke is increasing, and the downstream heating and environmental protection and other factors have reduced the demand for petroleum coke, and the downstream receiving intention is general. It is predicted that China petroleum coke market will be stable in the short term or will decline steadily.

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