SunSirs: China Refining Petroleum Coke Market was Weak and Consolidated (June 19-25)

According to the commodity analysis system of SunSirs, the price of Petroleum coke produced by the local refiner declined slightly last week. On June 25, the average price of Shandong market was 1,751.50 RMB/ton, down 0.71% from 1,764.00 RMB/ton on June 12.

On June 25, the Petroleum coke commodity index was 136.23, up 1.95 points from yesterday, down 66.67% from the cycle's highest point of 408.70 (2022-05-11), and up 103.66% 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)

Last week, the price of Petroleum coke produced by local refineries declined slightly. Local refineries were under pressure for shipment and actively discharged inventory. The downstream was in a strong wait-and-see mood, and the trading 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.

The international crude oil market has declined last week. Mainly due to the expected impact of interest rate hikes by European central banks and further interest rate hikes by the Federal Reserve, demand side pressure is evident, overshadowing the positive data on US oil inventories. The recent macroeconomic pressure is still difficult to alleviate, and the market is seeking a rebalancing of supply and demand. The oil market will maintain a weak and volatile situation.

The price of calcined coke remained basically stable last week. The downstream demand of metal silicon is still weak, and most silicon enterprises are in cost inversion. The market is in a stalemate. The short-term trend of metal silicon fluctuates. As of June 25, the average price of 441# metal silicon Spot market in China was 13,730 RMB/ton. The downstream electrolytic aluminum market is fluctuating, and there is a trend of inventory depletion in the electrolytic aluminum society. Inventory depletion is evident, with an average price of 18,820.00 RMB/ton as of June 25th. Downstream enterprises have a strong wait-and-see attitude and low enthusiasm for receiving goods, with on-demand procurement being the main focus.

SunSirs petroleum coke analysts believe that: at present, domestic Petroleum coke supply is sufficient, coupled with the high stock of imported Petroleum coke, the downstream demand side purchasing enthusiasm is weak near the end of the month, the local refining Petroleum coke delivery and investment is average, the refinery actively arranges the stock, the downstream enterprises have a strong wait-and-see mood, the enthusiasm of receiving goods is not high, and the purchase is mainly on demand. It is expected that the local refining of Petroleum coke in the near future will be weak.

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