Petroleum Coke Mixed Market Trading, Refinery Coke Prices Mostly Down with Some Increases
Market Overview
December 24th, the average market price of petroleum coke was 2,993 yuan/ton, down 25 yuan/ton from the previous working day, a decrease of 0.83%. Today, trading in the petroleum coke market was mixed. State-owned refineries maintained stable coke prices, while downstream buyers remained cautious. Independent refineries saw average sales, with coke prices mostly declining, though some saw increases.
Transaction Prices in Major Regional Markets
Sinopec refineries executed orders at steady prices, with downstream carbon and anode material companies purchasing mainly based on demand, showing limited acceptance of higher prices. In the Yangtze River region, anode-grade coke was sold at stable prices, with Anqing Petrochemical and Hunan Petrochemical mainly supplying anode coke. In East China, Jinling Petrochemical primarily produced energy storage coke, while Yangzi Petrochemical, Shanghai Petrochemical, and Gaoqiao Petrochemical mainly supplied high-sulfur coke. In Shandong, Jinan Refinery focused on anode coke sales, and Qingdao Refinery supplied high-sulfur coke based on demand.
CNPC refineries executed orders, with stable shipments in Northeast China and no fluctuations. Refineries in Northwest China primarily supplied aluminum carbon materials, and Lanzhou Petrochemical’s coking unit has started producing coke.
CNOOC refineries shipped according to orders.
Independent Refineries: The petroleum coke market for independent refineries saw average sales, with prices mostly declining, though some increased. Today, the average market price in Shandong was 2,501 yuan/ton, down 18 yuan/ton from the previous working day, a decrease of 0.71%. Currently, some refineries continued to raise coke prices by 30–100 yuan/ton. However, downstream companies purchased petroleum coke based on demand, providing limited support to the market. Meanwhile, some refineries lowered prices by 15–70 yuan/ton to ease sales. Notable market fluctuations included Dongying Haike Ruilin’s petroleum coke, with sulfur content rising to 1.82% and vanadium content rising to 269 PPM, while the coke price decreased by 100 yuan/ton.
Imported Coke: Port shipments of petroleum coke were relatively slow, with some pre-sold petroleum coke yet to arrive. Spot prices for medium- and high-sulfur imported coke saw slight declines, with limited sales. Low-sulfur coke prices remained firm.
Supply Situation
As of December 24th, 17 coking units nationwide were shut down for maintenance. Daily national petroleum coke production was 87,140 tons, with the coking operating rate at 68.26%, up 0.63% from the previous working day.
Demand Situation
Downstream aluminum carbon companies maintained rigid demand for petroleum coke. Trading in the anode material market showed little fluctuation, with procurement of petroleum coke remaining steady. The silicon carbide market continued to demand petroleum coke. Graphite electrode companies focused on maintaining production-sales balance, currently executing orders cautiously, with no short-term increase in demand for petroleum coke.
Market Outlook
The petroleum coke market showed weak but stable trading overall, with downstream companies still having procurement needs, providing some support to the market. Baycrest predicts that petroleum coke prices will remain largely stable in the coming days, with limited increases for independent refinery coke prices and the possibility of some narrow downward adjustments.