SunSirs: China Refined Petroleum Coke Market Fluctuated after the National Day Holiday

According to the Commodity Analysis System of SunSirs, as of October 16th, the price of refined petroleum coke in the Shandong market was 1,805.00 RMB/ton, an increase of 0.28% compared to October 6th at 1,800.00 RMB/ton.

The international crude oil market has been fluctuating recently. Affected by geopolitical turmoil, supply concerns have intensified. On the macro level, the resilience of US economic data has raised expectations for the Federal Reserve to raise interest rates, and the negative sentiment still exists. On the supply side, the market's focus is on the conflict between Palestine and Israel. Israel and Palestine are not oil producing areas, and the Israeli-Palestinian conflict has not yet affected the actual supply of crude oil. Concerns have slightly eased. In the short term, the situation on the mainland is volatile, and oil prices may intensify volatility, with an increase in amplitude.

Recently, imported petroleum coke from domestic ports has continued to arrive at the port, and import traders have been actively shipping and shipping speed has been fast. However, due to limited transportation during holidays, the storage of petroleum coke at the port has increased. After the holiday, the prices of refined petroleum coke fluctuated, and refineries adjusted prices based on changes in petroleum coke indicators. Downstream enterprises showed moderate enthusiasm for hoarding and light trading.

As of October 12th, the number of silicon metal furnaces in China has reached 415, with an overall furnace opening rate of 56.93%, an increase of 9 units compared to the previous month. The southwest region is gradually entering a dry season, and the operating rate is still at a high level. There is still an increase in the data of boiler operation in Xinjiang, and the overall supply is relatively sufficient. And the recent cancellation of futures warehouse receipts has begun, and futures inventory will continue to be released, and metal silicon may once again face excess pressure in the future. At present, metal silicon is mainly used for purchasing petroleum coke on demand.

Currently, the overall supply of petroleum coke in the market is abundant, and local refineries are under pressure for petroleum coke shipments. There is no significant improvement in the downstream demand side, and on-demand procurement is the main focus. It is expected that the refining of petroleum coke in the near future may be dominated by weak consolidation.

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