SunSirs: Purchase on Demand, China Refined Petroleum Coke rose first and then fell

According to the commodity analysis system of SunSirs, the price of Petroleum coke of local refiners rose first and then fell this week. On July 30, the average price of Shandong market was 1,966.50 RMB/ton, 0.25% lower than the price of 1,971.50 RMB/ton on July 24.

On July 30, the commodity index of Petroleum coke was 152.95, unchanged from yesterday, down 62.58% from the cycle's highest point of 408.70 (2022-05-11), and up 128.66% 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)

Supply side: port Petroleum coke inventory continues to decline, and locally refined Petroleum coke rises first and then falls

The stock of Petroleum coke in domestic ports continues to decline. Recently, less imported Petroleum coke has arrived at the port. In addition, the downstream procurement is active, and the port Petroleum coke port dredging speed is good. The local refining Petroleum coke was shipped well this week, and the price of Petroleum coke rose at the beginning of the week under the positive influence of downstream enterprises' procurement; However, with the high price of Petroleum coke, the enthusiasm for downstream procurement has weakened, and the inventory of some refineries has increased, the price of Petroleum coke has fallen back.

On the demand side: terminal operating rate increases, demand increases

Last week, the price of silicon metal remained stable. The price differentiation of metal silicon in the north and south is due to cost pressure, and many silicon factories in the south have raised prices, while factories in the north have maintained low prices. Affected by the Universiade, the silicon factory in Sichuan has been shut down for two weeks. The pace of resuming production in Yunnan region is fast, and the operating rate is around 80% as of the end of the month. The northwest region continues to resume production. As of July 28th, there were 324 silicon metal furnaces in operation, with an overall furnace opening rate of 45.13%. The overall demand for metal silicon is weak, and the purchase enthusiasm for Petroleum coke is general.

The weakness of the local refining Petroleum coke market was sorted out, and the calcined coke market was generally stable. The production capacity of electrolytic aluminum enterprises in Yunnan Province has been restored to 1.3 million tons, and 1.03 million tons have been completed so far in July. Due to power outsourcing and device maintenance factors, the production capacity in Sichuan Province has been reduced by about 80,000 tons. The output of Yunnan is expected to release, the production capacity is high, and the electrolytic aluminum output is expected to increase, which still has good support for the Petroleum coke market.

The price of Petroleum coke locally refined in the early stage continued to rise, and downstream enterprises were in a strong wait-and-see mood. In addition, downstream funds were tight at the end of the month, and Petroleum coke was mainly purchased on demand. It is expected that Petroleum coke locally refined in the near future will be mainly stable, and some refineries will fluctuate slightly.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.