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SunSirs: The Price of China Domestic Petroleum Coke Fell sharply in December 2022

January 04 2023 11:37:37     SunSirs (Selena)

According to the data from the bulk list of SunSirs, the mainstream average price of petroleum coke products of major domestic refineries in December was 3,514.00 RMB/ton at the beginning of the month, 2,689.00 RMB/ton at the end of the month, with a monthly drop of 825 RMB/ton, or 23.48%.

On December 30, the petroleum coke commodity index was 209.15, up 3.89 points from yesterday, down 48.83% from the cycle's highest point of 408.70 (2022-05-11), and up 212.68% from the lowest point of 66.89 on March 28, 2016. (Note: the cycle refers to the period from September 30, 2012 to now)

In December, the price of petroleum coke produced by local refineries dropped sharply. Last month, the national logistics and transportation recovered slowly. In addition, the petroleum coke market was fully supplied, the local refineries had high inventories, the local refineries had average shipments, the downstream had a strong wait-and-see attitude, and the price of petroleum coke continued to decline.

In December, the trend of international crude oil prices was volatile and downward. The Federal Reserve suggested that the interest rate increase was far from over and was not close to the end of monetary tightening. The persistent economic heat in the first half of December triggered the market's concern about the Federal Reserve's transition from "dove" to "eagle", which may disappoint the Federal Reserve's previous desire to slow down interest rate hikes. The market provided the basis for the Federal Reserve to curb inflation and maintain the path of monetary tightening, which triggered a general decline in risky assets. In addition, the overall economy was weak. The severe epidemic in Asia continued to drag down demand expectations. The outlook for energy demand was still not optimistic. Economic weakness depressed oil prices, which fell sharply in the first half of the month. In the second half of the month, in response to the Group of Seven's price ceiling on oil exports to Russia, Russia said it might cut oil production, tightening expectations to heat up the oil market. The news that the United States planned to store strategic oil reserves also brought good news to the oil market. In the second half of the month, international oil prices recovered their decline. On the whole, crude oil prices fell slightly.

The calcined coke market declined in December; The market price of metal silicon fell. As of December 30, the price was 19,040.00 RMB/ton; The downstream electrolytic aluminum market fluctuated and fell. As of December 30, the price was 18,696.67 RMB/ton; Downstream carbon enterprises are under great financial pressure and have a strong wait-and-see mood, mainly purchasing on demand.

The oil coke analyst of the business agency predicted that: in December, the international crude oil fluctuated downward, and the cost support of oil coke was limited; The national logistics and transportation recovery is slow, the petroleum coke market is abundant, the local refining enterprises have high inventories, and the downstream is mainly wait-and-see. The purchasing enthusiasm is average. After the New Year's Day, some downstream enterprises have been stocking up before the Spring Festival. It is expected that the price of China local refined petroleum coke will rise slightly in the near future.

 

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