According to SunSirs' commodity analysis system, the market for petroleum coke from independent refineries saw mixed movements last week but trended downward overall. As of August 21, the price of petroleum coke from independent refineries in the Shandong market stood at 3,229.50 RMB/ton, a 3.90% drop from the 3,464.50 RMB/ton recorded on August 17.

International crude oil prices surged last week; by August 21, WTI crude had risen to $86.83 per barrel, while Brent crude reached $93.78 per barrel. This sharp rise was driven by a rapid escalation of geopolitical tensions in the Middle East. A 60-day memorandum of understanding regarding the US-Iran conflict expired on August 17, but neither side showed interest in renewing it. Negotiations collapsed completely due to disagreements over control of the Strait of Hormuz, dashing earlier market hopes for a de-escalation. Concerns over shipping safety and fears of supply disruptions drove a significant increase in crude oil prices.

Independent refineries were active in shipping petroleum coke last week, with some lowering prices; additionally, price adjustments at some refineries were notably influenced by changes in product specifications. Imports of petroleum coke continued to arrive at ports, where inventory levels maintained a downward trend.

Market Outlook: On the supply side, petroleum coke supplies are likely to increase as refineries that underwent earlier maintenance resume operations; combined with continued arrivals of imported petroleum coke, the overall increase in market supply offers limited support to prices. On the cost side, rising international crude oil prices provide support to the domestic petroleum coke market. Regarding demand, downstream carbon enterprises are facing cost and order pressures, leading to a cautious purchasing stance with a focus on buying only as needed. Operating rates in the anode material industry remain high, supporting prices for low-sulfur petroleum coke, while planned capacity expansions for pre-baked anodes may boost demand for petroleum coke. Overall, petroleum coke prices are expected to undergo narrow-range consolidation in the short term.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.