SunSirs: China Petroleum Coke Refining in Mid August Is Expected to Decline

According to the commodity analysis system of SunSirs, the market for locally refined petroleum coke declined in mid August. As of August 19th, the price of locally refined petroleum coke in the Shandong market was 2,535.00 RMB/ton, a decrease of 1.93% from 2,585.00 RMB/ton on August 11th.

The crude oil prices fluctuated in mid August, mainly due to the market waiting for the results of the US Russian leaders' meeting, and the geopolitical situation is still expected to further ease.

In mid August, the overall market for petroleum coke in the local refining industry declined, with average shipments from refineries. Some refineries' petroleum coke prices fluctuated significantly with indicators, and petroleum coke prices fluctuated alternately; Downstream enterprises have average enthusiasm for purchasing petroleum coke, while refineries tend to ship goods on demand. Recently, there has been a positive trend in the production of petroleum coke at ports, and port inventories have continued to decrease. Southwest silicon companies have started production one after another, which is favorable for the production of Formosa Plastics coke.

The market for calcined coke saw a slight increase in mid August, with most companies selling out their orders this month and low inventory levels. Companies have a strong willingness to push up prices for newly signed orders.

Currently, the trading in the local refined petroleum coke market is average, and downstream demand procurement still provides support for the petroleum coke market. However, procurement is relatively cautious, and it is expected that petroleum coke will mainly consolidate weakly in the near future.

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