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SunSirs: The Price of Petroleum Coke Fell Last Week in China (June 21-27)

June 30 2021 10:45:00     SunSirs (Selena)

According to the data from SunSirs, the price of petroleum coke products from domestic refineries fell. On June 27, the average price of Shandong market was 2,162.00 RMB/ ton, down 2.41% from the average price of 2,215.33 RMB/ ton on June 21. On June 27, the petroleum coke commodity index was 168.16, unchanged from the previous day, down 8.72% from the highest 184.23 points (2021-05-25) in the cycle, and up 151.40% from the lowest 66.89 points on March 28, 2016(Note: period refers to the period from September 30, 2012 to now)

Last week, the supply of local refineries' petroleum coke continued to increase, refineries were actively shipping and exporting, and the demand side was generally enthusiastic about purchasing. Some refineries were under pressure and the price fell.

Upstream: the price of international crude oil is rising, the economy of many regions in the world is gradually recovering, the vaccination in the United States is growing rapidly, the demand for crude oil in the United States is in the peak season, and the expectation of recovery of demand in Europe and the United States is boosting the crude oil market. In addition, OPEC+ continues to adhere to the measure of gradually restoring supply from June to July, Offsetting the risk that a consensus reached in the US Iran nuclear agreement negotiations may lead to an increase in supply supports oil prices.

Downstream: with the support of electrolytic aluminum enterprises, the overall carbon product shipment is good; The price of calcined coke declined; The price of electrolytic aluminum in the lower reaches rose this week, reaching 18,790.00 RMB/ ton as of June 27; At present, the inventory of silicon factory is low, the market price of metal silicon is rising steadily, and the downstream demand is acceptable.

Industry: according to the price monitoring of SunSirs, in the list of commodity prices in the 25th week of 2021 (6.21-6.25), there were 13 kinds of commodities in the energy sector that rose month on month, including 1 kind of commodity that rose more than 5%, accounting for 6.3% of the number of commodities monitored in the sector; The top three commodities were coking coal (6.35%), thermal coal (3.47%) and coke (2.77%). There were three kinds of commodities that declined on a month on month basis, and the top three products were DME (-2.68%), petroleum coke (-2.41%) and MTBE (-0.84%). The average rise and fall this week was 1.12%.

SunSirs analysts of petroleum coke believe that: in the early stage, the inspection and repair refineries have started one after another, the supply of petroleum coke from local refineries has increased, and refineries are actively shipping and exporting, but the demand side purchasing enthusiasm is limited. It is expected that China petroleum coke will be sorted out in the near future.

 

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