According to the commodity analysis system of SunSirs, the mainstream average price of Petroleum coke products of major domestic local refiners in June was 1,864.00 RMB/ton on June 1 and 1,726.50 RMB/ton on June 29, with a monthly decline of 7.38%.
On June 29, the Petroleum coke commodity index was 134.28, up 0.97 points from yesterday, down 67.14% from the cycle's highest point of 408.70 (2022-05-11), and up 100.75% from the lowest point of 66.89 on March 28, 2016. (Note: The cycle refers to the period from September 30th, 2012 to the present)
In June, the market of locally refined Petroleum coke fell in shock. In June, the inventory of Petroleum coke of local refining enterprises was at a high level, the shipment was under pressure, and the inventory was actively discharged. The downstream was in a strong wait-and-see mood, and the turnover was average. At present, the port Petroleum coke inventory is high and the shipment is active, but the terminal just needs replenishment, and the overall trade is general.
In June, the international crude oil market was volatile. On the one hand, based on the global economic situation, the Federal Reserve announced that interest rate hikes have not yet ended and will not cut rates. Macroeconomic pressure has increased, putting pressure on the oil market. On the other hand, OPEC+ has announced two production cuts, coupled with the increase in China's refining and processing volume, which has boosted international oil prices. The demand during the summer oil peak season has supported, and the international oil price market has been boosted.
The overall price of calcined coke increased slightly in June. In June, the market for electrolytic aluminum fluctuated, with aluminum ingot inventory still at a historical low. Yunnan's production is expected to release, and the cost support for aluminum oxide is weak. Currently, it is in the stage of intensifying the long short game. Qinghai has restricted electrolytic aluminum production due to the summer electricity peak, and Yunnan continues to experience drought. It is expected that power supply will be tight this summer, which will have a negative impact on electrolytic aluminum production. In June, the metal silicon market declined, and the current supply of metal silicon is expected to decrease compared to the previous period. The inventory side has slightly declined, but the sustained weakness on the demand side is not enough to support the continuous rebound of metal silicon prices. At present, downstream enterprises are in a strong wait-and-see mood. They are not enthusiastic about receiving Petroleum coke, and mainly purchase on demand.
SunSirs petroleum coke analysts predicted that at present, domestic Petroleum coke supply is sufficient, coupled with the high stock of imported Petroleum coke, there is a lot of rain in the near future, and the shipment of some ports is greatly affected by the weather, so the shipment is limited. Toward the end of the month, the downstream demand side purchase enthusiasm is weak, the delivery of locally refined Petroleum coke is average, the refinery actively arranges stocks, the downstream enterprises have a strong wait-and-see mood, the enthusiasm for receiving goods is not high, and the procurement is mainly on demand. It is expected that the local refining of Petroleum coke in the near future will be dominated by weak points.
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