SunSirs: China Domestic Petroleum Coke Rose sharply in January

According to the data from SunSirs, the mainstream average price of petroleum coke products of major local refineries in January was 1,505.75 RMB/ ton at the beginning of the month and 1,685.25 RMB/ ton at the end of the month, up 179.50 RMB/ ton within the month, or 11.92% per month.

On January 31, the petroleum coke commodity index was 131.08, unchanged from the previous day, down 15.75% from 155.59 (2018-01-25), the highest point in the cycle, and up 95.96% from 66.89, the lowest point on March 28, 2016. (Note: period refers to from September 30, 2012 to now)

Products: in January, local refined petroleum coke rose sharply. The downstream demand was stable and the low sulfur coke market ran smoothly. Affected by the epidemic, in addition to the downstream enterprises stock before the Spring festival, the medium and high sulfur shipment was better, and the inventory was low.

Upstream: U.S. crude oil stocks are declining, the U.S. dollar is weakening, and the global epidemic is still serious. The market is more concerned about the delay of vaccination and new travel restrictions that may depress demand. Last week, WTI crude oil prices rose 0.13% and Brent crude oil prices fell 0.56%.

Downstream: affected by heating and environmental protection factors and low downstream demand, the carbon market is weak; the price of downstream electrolytic aluminum is weak and volatile. According to the data of SunSirs, as of January 31, the average price of domestic aluminum ingot market was 14,980 RMB/ ton; the silicon metal market was stable.

Industry: according to the price monitoring of SunSirs, in the list of commodity price rise and fall in the 4th week of 2021 (1.25-1.29), there were 5 kinds of commodities in the energy sector, including 1 kind of commodities with an increase of more than 5%, accounting for 6.3% of the number of commodities monitored in the sector; the top 3 commodities with an increase were LNG (11.38%), coke (3.91%) and LPG (2.06%). There were 9 kinds of commodities that declined on a month on month basis, and 1 kind of commodities with a decline of more than 5%, accounting for 6.3% of the number of commodities monitored in the sector; the top 3 products with a decline were thermal coal (-12.77%), DME (-2.30%) and petroleum coke (-2.25%). The average rise and fall last week was -0.19%.

SunSirs petroleum coke analysts predict that: it is expected that the price of China petroleum coke may go down in February, and the price range may be around 1,500-1,600 RMB/ ton.

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