SunSirs: China Petroleum Coke Market rose sharply Last Week (July 3-7)

According to the commodity analysis system of SunSirs, the price of Petroleum coke of the local refinery increased significantly last week. On July 9, the average price of Shandong market was 1,866.50 RMB/ton, 5.07% higher than the price of 1,776.50 RMB/ton on July 3.

On July 9, the Petroleum coke commodity index was 145.17, unchanged from yesterday, 64.48% lower than the cycle's highest point 408.70 (2022-05-11), and 117.03% higher than the lowest point 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 rose sharply. The inventory of Petroleum coke produced by Shandong local refineries was at a medium low level. Downstream enterprises had good enthusiasm for replenishment, and local refineries had good turnover. At present, the port Petroleum coke inventory is at a high level, and the terminal just needs replenishment, so the overall trade is general.

Last week, the international crude oil market fluctuated and rose. The expectation of tight supply due to OPEC tightening production in the oil producing country has overshadowed concerns about slowing demand due to the Federal Reserve's interest rate hike. The decline of the US dollar provides support for crude oil; The production reduction of the OPEC and its allies (OPEC+) increased supply concerns; The United States will purchase 6 million barrels of crude oil to fill its strategic oil reserves.

Last week, the price of calcined coke increased slightly. The trend of metal silicon rose slightly. As of July 9, the average price of 441# metal silicon in the Spot market was 13,740 RMB/ton. The downstream electrolytic aluminum market is fluctuating and declining, with an average price of 18,223.33 RMB/ton as of July 9th. Downstream enterprises have good enthusiasm for replenishment, local refining enterprises have good turnover, and the terminal just needs to support the price of local refining Petroleum coke.

SunSirs petroleum coke analysts believe that at present, the inventory of Petroleum coke produced by Shandong Local Refining Co., Ltd. is at a medium low level, downstream enterprises have good enthusiasm for replenishment, local refining enterprises have good turnover and investment, and the terminal just needs to support the price of Petroleum coke produced by Shandong Local Refining Co., Ltd. However, the domestic coking units have been overhauled in succession, and the domestic production of Petroleum coke has increased slightly. In addition, the port Petroleum coke resources are sufficient, and the terminal replenishment capacity is limited. It is expected that in the near future, the local refining of Petroleum coke will be dominated by shocks.

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