Price trend

According to the monitoring data of SunSirs, the price of petroleum coke from local refiners continued to rise this week. The average market price in Shandong on June 12 was 4,603.00 RMB/ton, an increase of 3.18% from the price of 4,461.00 RMB/ton on June 6.

On June 12, the petroleum coke commodity index was 358.01, the same as previous day, down 12.40% from the highest point in the cycle of 408.70 points (2022-05-11), and up 435.22% from the lowest point of 66.89 points on March 28, 2016. (Note: The cycle refers to 2012-09-30 to the present)

Analysis review

Refinery petcoke prices continued to rise this week, refinery shipments were good, and downstream companies were active in purchasing.

Upstream: International crude oil prices rose, the EU's oil ban on sanctions against Russia was delayed, and the expectation of tight supply remained unchanged. Coupled with the arrival of the peak summer driving season in the United States, demand was expected to improve, and supply and demand fundamentals were still positive for oil prices. Currently in the peak season of traditional crude oil consumption, and it is also the season of extreme weather such as hurricanes, crude oil has a tendency to hit new highs again, and international oil prices continue to rise.

Downstream: The price of calcined coke went down this week; the market price of metal silicon decreased slightly; the price of downstream electrolytic aluminum decreased, as of June 12, the price was 20,516.67 RMB/ton. At present, the supply of petroleum coke in the market has increased, but the refinery inventory is low, and downstream purchases are active.

Market outlook

The petroleum coke analyst of SunSirs believes that the petroleum coke price of local refining companies was corrected this week, the refinery was actively shipping, the inventory was low, and the downstream purchases were active. It is expected that the price of refined petroleum coke may continue to rise in the near future.

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