SunSirs: Prices of China Refined Petroleum Coke Continue to Rise in October

According to the commodity analysis system of SunSirs, the market for locally refined petroleum coke continued to rise in October. The mainstream average price of sulfur products in petroleum coke from major domestic refineries was 2,813.25 RMB/ton on October 31, compared to 2,387.75 RMB/ton on October 1, with a monthly increase of 17.92%.

Cost aspect: The international crude oil market fluctuated and declined in October: OPEC+continued to increase production in the first half of the year, and the situation between Palestine and Israel continued to ease. Coupled with the possibility of new risks posed by US tariffs, international oil prices fell; In the middle of the month, the market is concerned about the risk of oversupply, and the trade dispute triggered by the United States is suppressing demand prospects, leading to a continued decline in international oil prices; In the latter half of the year, the United States imposed new sanctions on Russian oil companies, raising concerns in the market about potential supply risks and leading to an increase in international oil prices.

Supply side: In October, the market for refined petroleum coke rose, with active shipments from refineries. The price of petroleum coke fluctuated, and some refineries adjusted their indicators. The price of coke changed significantly with the indicators; Downstream procurement is active, supporting the petroleum coke market, and refinery shipments are good. In October, the supply of imported petroleum coke was tight, and some traders suspended quotations. Port petroleum coke shipments were still acceptable, while sponge coke prices continued to rise, and market trading was still acceptable.

Demand side: Currently, there is a significant differentiation in the supply side of silicon metal. As the dry season approaches in the southwest region, silicon metal production enterprises in Yunnan and Sichuan are gradually reducing production. Some enterprises are expected to further reduce their load by the end of this month, and the overall operating rate in the southwest region is expected to continue to decrease. However, the overall operating rate in the northwest region has increased, and the resumption of work by large factories in Xinjiang has driven an overall increase in regional operating rates. After complementing the supply side with the southwest region, the overall supply pressure in the market still exists. The demand for petroleum coke market in the silicon industry still exists.

The market for medium sulfur calcined coke rose in October, with the price of raw petroleum coke continuing to rise. The cost of calcined coke is under significant pressure, and enterprise quotations continue to rise. Downstream procurement is cautious.

Aluminum prices strengthened in October. According to the Commodity Market Analysis System of SunSirs, as of October 31, 2025, the average price of aluminum ingots in the East China market in China was 21,293.33 RMB/ton, an increase of 2.70% from the market average price of 20,733.33 RMB/ton on October 1. The domestic consumption peak season continues, and the demand for aluminum is performing well. Although the high price of aluminum has somewhat suppressed the enthusiasm of downstream procurement, downstream still maintains rigid demand procurement. Downstream aluminum uses carbon as the main demand in the petroleum coke market.

At present, the shipment of refined petroleum coke is good, and the inventory of petroleum coke in ports continues to decline; In addition, the benchmark price for pre baked anode procurement increased in November, which is favorable for the petroleum coke market. It is expected that the petroleum coke market will continue to rise in the near future.

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