SunSirs: The Price of Local Refined Petroleum Coke Rose and Fell Last Week in China (September 12-18)

According to the data of SunSirs, the price of petroleum coke of local refineries rose first and then fell last week. On September 18, the average price of Shandong market was 4,201.50 RMB/ ton, which was stable compared with the price of 4,201.50 RMB/ ton on September 12.

On September 18, the petroleum coke commodity index was 326.78, unchanged from the previous day, 20.04% lower than the cycle's highest point of 408.70 (2022-05-11), and 388.53% higher than the lowest point of 66.89 on March 28, 2016. (Note: the cycle refers to the period from September 30, 2012 to now)

Last week, the price of petroleum coke in the refinery rose first and then fell. The refinery's shipment was OK. The downstream demand side procurement was supported. The overall price of petroleum coke remained stable.

Upstream: The international crude oil price fluctuates. At the macro level, the Federal Reserve may significantly increase interest rates, making the dollar stronger again, depressing oil price estimates. In addition, the global economic recession is expected to continue to depress oil prices. The good news on the supply side of the oil market and the bad news on the demand side will continue to play a game. In particular, the trend of geopolitical tension is becoming more serious, and the oil price is subject to more interference factors, which will further aggravate the shock of the oil market.

Downstream: the price of calcined coke rose slightly last week; The price of metal silicon market decreased slightly; The price of downstream electrolytic aluminum rose. As of September 18, the price was 18,903.33 RMB/ ton; After the festival, the carbon market was highly motivated to replenish, the overall support for demand was good, and some refineries were under pressure due to typhoon.

SunSirs analysts believe that: last week, the international crude oil shocks, the cost of oil coke support; After the festival, the carbon market was highly motivated to replenish, and the overall demand was well supported. Some refineries were under pressure due to the typhoon, and the refinery's petroleum coke shipment was OK. It is expected that the price of China local refined petroleum coke will be mainly adjusted in the near future.

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