Petroleum Coke Prices Adjusted to Market on March 27 with a Drop of 30-380 Yuan per Ton
Market Overview of Petroleum Coke on March 27
The domestic petroleum coke market saw moderate trading activity today. Major refineries fulfilled existing orders and sold products at stable prices to the external market; local refineries faced pressure in product shipments, with transaction prices revised downward once again.
Domestic coke: Sinopec refineries recorded stable trading, backed by steady demand from the downstream market, and maintained stable ex-factory prices for shipments. PetroChina refineries had sound shipment volumes and low inventory levels. Some CNOOC refineries saw a price increase of 170-250 CNY per ton in yesterday's auction, implemented the latest prices today, and arranged shipments in an orderly manner. Local refineries had previously raised prices too rapidly, which weighed on the cost of downstream enterprises and led to cautious purchasing sentiment, resulting in slower shipments. Some local refineries were under inventory pressure and proactively cut prices to ensure shipments, with the price drop ranging from 30 to 380 CNY per ton; only a handful of refineries offered a premium of 10 CNY per ton.
Imported coke: The imported coke market was dominated by order fulfillment today, with a slowdown in market trading activity and a decline in the volume of newly signed orders.
Demand side: Overall downstream consumption registered a slight increase amid stability, providing favorable support for petroleum coke prices. Demand in the prebaked anode market remained at a high level, and operating rates in the anode material market stayed robust at a high level, with a reasonable level of enthusiasm for raw material procurement. In the calcined coke market, production enthusiasm waned due to high raw material costs, and the procurement pace slowed slightly.
Downstream buyers of medium and high-sulfur coke were cautious in concluding and signing transaction orders. The major refinery market maintained stable-price sales by fulfilling contract orders; transaction prices of local refineries saw mixed ups and downs, and are expected to adjust by 10-100 CNY per ton in line with market trends.