SunSirs: The Price of Local Petroleum Coke Fell in China Last Week

According to the data of SunSirs, the price of petroleum coke of local refiners fell last week. On November 27, the average price of Shandong market was 3,689.00 RMB/ ton, down 3.40% from the price of 3,819.00 RMB/ ton on November 21.

On November 27, the petroleum coke commodity index was 286.92, unchanged from the previous day, 29.80% lower than the cycle's highest point of 408.70 (2022-05-11), and 328.94% 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)

The price of petroleum coke in the refinery fell last week. At present, the logistics transportation in many places across the country is blocked, and the petroleum coke market is in sufficient supply. The local refining enterprises are under pressure to ship, and the downstream is in a strong wait-and-see mood, so the transaction is average.

Upstream: International crude oil prices fell in shock. The inventory data released by the US Energy Information Administration (EIA) on Wednesday was negative, and the inventory of refined oil increased more than expected. It was also reported that the Group of Seven considered that the price limit of Russian seaborne oil was higher than the price ceiling of the current market level, and the supply tightening concerns eased. Western countries have not reached an agreement on the upper limit of Russian oil price; The oil price continues to be under pressure due to overlapping demand concerns.

Downstream: the price of calcined coke was basically stable last week; The price of metal silicon market declines; The price of electrolytic aluminum in the downstream rose in a volatile way. As of November 27, the price was 19,050.00 RMB/ ton; Downstream carbon enterprises purchase on demand, mainly on a wait-and-see basis.

SunSirs oil coke analyst of the business agency believes that: last week, the international crude oil shocks and declines, and the cost support of oil coke is limited; At present, the logistics transportation across the country is blocked, and the petroleum coke market is fully supplied. The local refining enterprises have high inventories. At the end of the month, the downstream is mainly wait-and-see, and the purchasing enthusiasm is average. It is expected that the price of China refined petroleum coke will continue to decline in the near future.

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