SunSirs: The Local Refining Petroleum Coke Market first Rose and then Fell This Week

According to the Commodity Analysis System of SunSirs, the price of refined petroleum coke in Shandong market increased first and then decreased this week. As of March 18th, the price of refined petroleum coke in Shandong market was 1,700.00 RMB/ton, a decrease of 0.73% from 1,712.50 RMB/ton on March 11th.

Cost side: The international crude oil market has fluctuated and risen this week, and the cycle has begun. The Federal Reserve has issued hawkish signals, delaying interest rate cuts and suppressing market confidence; US crude oil inventories have risen for the sixth consecutive week, rising by 1.4 million barrels to 448.5 million barrels. Analysts expect an increase of 2.1 million barrels, putting pressure on crude oil prices. Supported by the tense geopolitical situation in the Middle East in the later stage; In addition, the expected reduction in production by oil producing countries is also a major factor supporting oil prices, leading to an increase in international oil prices.

Supply side: This week, the shutdown, maintenance, and production reduction of coking units in refineries have gradually increased, resulting in a relative decrease in supply, which is beneficial to the petroleum coke market; The shipment of imported sponge coke is stable, and traders mainly execute orders.

On the demand side: As of March 14th, there were 325 silicon metal furnaces operating in China, with an overall start-up rate of 43.33%, an increase of 2 furnaces compared to last week. In March, silicon plants resumed production one after another, and the overall operating rate continued to gradually increase. However, some areas have undergone shutdown and maintenance operations, resulting in stable growth in the overall supply situation. At present, the demand for purchasing petroleum coke from metallic silicon is still acceptable, supporting the petroleum coke market.

This week, the overall price of sulfur calcined coke has increased. Recently, some negative electrode factories have started to purchase calcined coke one after another, and the shipment of calcined coke has improved. Currently, calcined coke enterprises are operating steadily, and the market supply is relatively sufficient.

This week, aluminum prices have risen, and the traditional peak consumption season is approaching. Downstream demand may improve. The production capacity of aluminum profiles, aluminum cables, aluminum plates and strips, aluminum foil, primary aluminum alloys, and recycled aluminum alloys is gradually recovering with the resumption of production and work. The future spot trading is expected to improve from the current light trend. Downstream aluminum carbon enterprises still have a demand for petroleum coke and mainly purchase according to demand.

Currently, the coking equipment in refineries is undergoing maintenance, resulting in a decrease in the supply of petroleum coke for local refining, which is beneficial to the petroleum coke market; But currently, downstream demand is limited, and the market maintains a focus on essential procurement; In addition, the continuous arrival of imported petroleum coke at the port may increase the storage of petroleum coke in the port. Overall, it is expected that the price of refined petroleum coke in the near future will remain stable and mainly consolidate.

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